Economic leadership key to keeping up with the Joneses

Mayoral Candidate Jo Coughlan is singing Wellington’s economic praises ahead of this evening’s official launch of the new David Jones store on Lambton Quay.

Coughlan, Chair of the Council’s Economic Growth and Arts Committee, said with the right leadership in place, Wellington can continue to attract new businesses and investment into the Capital.

“When the doors to David Jones open tomorrow Welingtonians will see first hand what our great little city can offer to world-class retailers. This is a big vote of confidence in the potential of Wellington, with investment in the Lambton Quay store likely to exceed $20 million,” Jo Coughlan said.

“This potentially award-winning design could have a flow-on effect to other retail sites. Already we see requests for retail space on Lambton Quay are outstripping supply. Growth in the CBD is outpacing growth in Auckland.”

John Milford, Chief Executive of Business Central and the Wellington Chamber of Commerce, recently implied that it’s almost time to put up the ‘no vacancy’ signs on Lambton Quay. With vacancy on Lambton Quay below two percent, Milford said that Lambton Quay had among the highest foot traffic in New Zealand, meaning it would inevitably be strong, but the impending arrival of a new flagship would raise its profile.

Jo Coughlan said that if the Council focuses on delivering jobs and growth for Wellington, predictions of the ‘Golden Mile’ becoming the ‘Boring Mile’ will evaporate. She said that as Chair of the Economic Growth Committee, commercial property investment doubled in 2015 and the Council has invested millions to improve the quality of public spaces in the CBD.

“Wellington is on the way up,” Jo Coughlan said.

“You only need to look at the new development on and around Lambton Quay – Topshop opening in Capital on the Quay, R.M. Williams open on Willis St, the new PwC Wellington Office underway in the regenerated Kumutoto Precinct, and the new Whitireia/WelTec Campus transforming the Cuba quarter.

“I have worked every day to bring more economic activity to the Capital. As the next Mayor of Wellington I will be bringing stronger more consistent leadership with a much stronger focus on economic development."

ends

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