INDEPENDENT NEWS

Further PGF investment to unlock Rotorua’s potential

Published: Mon 24 Sep 2018 02:12 PM
Fletcher Tabuteau
Parliamentary Under-Secretary for Regional Economic Development
24 September 2018 MEDIA STATEMENT
EMBARGOED UNTIL 1PM
Further PGF investment to unlock Rotorua’s potential
Rotorua has been given a significant boost from the Provincial Growth Fund to contribute to a better future for its people and help unlock its potential as a world-class tourist destination, Parliamentary Under-Secretary for Regional Economic Development Fletcher Tabuteau announced today.
“I’m pleased to announce the PGF will invest $27.4 million to redevelop the Rotorua Lakefront and Whakarewarewa Forest,” Fletcher Tabuteau said.
“This investment builds on earlier support from the PGF in June to develop final business cases for the two Big Moves projects led by Rotorua Lakes Council, and these projects are now investment-ready.
The total redevelopment will be co-funded by the PGF and the Rotorua Lakes Council at a total cost of $55 million.
“The redevelopment of the Lakefront will include building new boardwalks, walkways, cycle ways, event infrastructure, more car parking, landscaping and an improved visual connection between the city and the lake. An improved access road, a cycleway from the park to the city, and visitor centre will be created at Whakarewarewa Forest.
“Once completed, redevelopment is expected to attract significant private and iwi investment in Rotorua’s high value tourism and hospitality offerings, leading to the creation of hundreds of new jobs.
“Today is an exciting day for the people of Rotorua, and reflects extensive effort by the Rotorua Lakes Council, iwi, business, and the local community.
“This is an excellent example of communities working together to generate substantiallong-term economic benefits both regionally and nationally,” Fletcher Tabuteau said.
Notes to editors:
The PGF Guide, Sector Statements, detailed Investment Statement and Cabinet paper can be found at www.growregions.govt.nz
Bay of Plenty region PGF investments to date:

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