Science Minister Pete Hodgson today welcomed a major new investment in New Zealand's science infrastructure by the
Earthquake Commission (EQC).
EQC is contributing $5 million a year for at least 10 years to the Institute of Geological and Nuclear Sciences, a Crown
Research Institute, to upgrade the national surveillance system for geological hazards.
The GeoNet initiative will upgrade seismographs, Global Positioning System equipment, chemical equipment and seismic
recorders. These are used to monitor, analyse or provide warning of earthquakes and volcanic unrest.
"This is an outstanding example of an enterprising research institute finding a forward-thinking partner in another
sector, in this case insurance," Mr Hodgson said. "It is a reminder of the far-reaching value of science and the
potential for science investment links throughout the economy."
Mr Hodgson said EQC's investment would in time produce some of the best seismic data in the world. It would also allow
some science funding used for maintaining the existing surveillance network to be invested instead in further geological
hazard research.
"New Zealand earth scientists are already world leaders in geological hazard research. The improvement in data available
from GeoNet will help keep them ahead of the pack.
"Geological hazard expertise is both an international drawcard and a valuable export for New Zealand science. This
investment will help maintain that strength."