Hon Shane Jones
Minister for Regional Economic Development
6 April 2018
Taranaki’s Action Plan to modernise its economy
The Provincial Growth Fund
(PGF) will invest up to $20 million to help future-proof the Taranaki region by diversifying its economy, creating
additional jobs and leveraging off the strong base the region has established through its oil, gas and agricultural
Regional Economic Development Minister Shane Jones and Parliamentary Under-Secretary Fletcher Tabuteau are in New
Plymouth today for the launch of Tapuae Roa: Make Way for Taranaki Action Plan with the Taranaki region.
Taranaki’s economy has traditionally relied on the oil, gas and minerals industry, as well as dairy and energy, which
make up about 40 per cent of the region’s GDP.
“The region is transitioning to a modern, high-value economy based on the skills, enterprise and knowledge of its
people,” Shane Jones said.
“The PGF will fund up to $20 million for projects from the action plan, with the region itself contributing more than
“Investment will be made into an ambitious proposal to enable more people to enjoy the beauty of Mt Taranaki and
initiatives aimed at transitioning the region to meet global market trends, such as those in the energy sector. It will
also create more opportunities to attract people to the region.
“The Action Plan identifies ‘four futures’ – energy, food, Māori economy and visitor sector futures. All of the actions
combined will work to grow Taranaki’s talent and entrepreneurial mindset. Developing the skills and capabilities of the
wider Taranaki community will form the strong foundation of a modern economy.
“It’s great to see the effort that has gone into this action plan and I’d particularly like to acknowledge the work of
the governance group, which has worked hard to bring everyone together to make the most of the opportunities in
“Integrated regional leadership - working alongside central and local government, iwi/Māori, and business - is vital to
the plan’s successful implementation and the future growth of the region,” Shane Jones said.
Provincial Growth Fund investments
Taranaki Cathedral Church of St Mary $5,000,000
Taranaki Crossing Experience $13,340,000
New Energy Development Centre – business case $100,000
H2 Taranaki Hydrogen Road Map $50,000
Future Foods – Taranaki Hill Country initiative $250,000
Future Foods – Major Food Opportunities $125,000
Future Foods – Food Network $50,000
Taranaki Innovation Precincts $100,000
Māori Education and Enterprise Stocktake $100,000
Tapuae Roa Support $210,000