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Taranaki 2035

Taranakiâ&#x20AC;&#x2122;s Regional Economic Development Strategy 2010-2035

Regional Strategy Foreword: John Young, Chairman, Venture Taranaki Trust.

n the time since Venture Taranaki released Taranaki’s first Regional Strategy in 2002, Taranaki has transformed. The region has grown in confidence with renewed pride and a global cosmopolitan outlook attracting thriving new industries. It is this solid position that the second version of the Taranaki Regional Economic Developement Strategy celebrates and builds upon. We are competing against the rest of the world in terms of attracting and retaining the best people, fostering innovation, and leveraging new technologies to gain a bigger slice of the economic pie. This Strategy will enable Taranaki to remain competitive in this changeable and challenging context. The Strategy’s vision is for a more competitive Taranaki economy that is progressive, growing, westward-looking and of national significance. We want Taranaki to be renowned for its people, culture, talent, rich natural resources and desirable location. It is ambitious, but Taranaki is up for the challenge. Our business community has always exhibited great energy, creativity and passion. It is time to ensure that our sights are set in a common direction and our efforts are towards a shared outcome. It is time for action.

Acknowledgments: A special thank you to...? Venture Taranaki wish to acknowledge the contribution of BERL.

To achieve the vision by 2035 each and every one of our region’s stakeholders must buy into this Strategy, banish complacency, and take a share in the ownership, the delivery, and the rewards that the future Taranaki can deliver. The time to start is right now.

Photographs courtesy: Rob Tucker, Jane Dove, Collection of Puke Ariki, New Plymouth (Photos: PHO2001-93 - PHO2002-810 - PHO2002-855 - PHO2003-1233 PHO2004-285 - PHO2006-241 - PHO2006-253 - PHO2006-281 - PHO2007-305 - PHO2008-126 - PHO2009-168 - PHO2009-171 - PHO2009-215 - PHO2009-305 - PHO2009-358). Designed by Cause&Effect Ltd Printed by Razz.

John Young, Chairman

Taranaki 2035 Regional Economic Development Strategy 2010-2035

New Plymouth

Stratford

Hawera

p. 6 Strategy At A Glance p. 10 What Are We Doing And Why? p. 12 Where Do We Stand Now? p.17 What Do We Want To Change? p. 20 Where Do We Want To Be?

Our Future

p. 21 Vision And Strategic Themes: p. 22 Team Taranaki p. 23 Gateway Taranaki p. 24 Foundation Taranaki p. 26 Frontier Taranaki p. 28 Talented Taranaki p. 30 Desirable Taranaki p. 33 How Do We Get There? p. 34 Three Year Priority Action Plan

Regional Economic Development Strategy 2010-2035

Strategy At A Glance Vision:

By 2035 , Taranaki will be a progressive, growing, westward-looking province, of national significance, renowned for

its people, culture, talent, rich natural resources and desirable location.

Strategic themes: TEAM TARANAKI

GATEWAY TARANAKI

FOUNDATION TARANAKI

FRONTIER TARANAKI

TALENTED TARANAKI

DESIRABLE TARANAKI

Goal:

To build partnerships and harness the collective energies and spirit of the Taranaki people and its leaders to benefit Taranaki’s growth.

To connect Taranaki locally, nationally and internationally, removing the geographic issue of isolation and building on the region’s proximity and access to Australia.

To maximise the potential of Taranaki’s core industries by adding value to the region’s traditional sectors and enhancing business capability, innovation, productivity and export development.

The pursuit of new horizons, industries and projects that foster diversification, growth, and/ or perception shifts to enhance Taranaki’s regional development.

To create a regional culture where innovation, talent and lifelong learning are valued and to ensure Taranaki businesses have the skills to support current and future needs.

To make Taranaki the preferred place to live, work and visit, in order to achieve the population target of 135,000 by 2035.

Flagship projects: Projects:

Projects:

Obtain commitment from key stakeholders on priorities and resourcing to achieve the strategy’s vision

Form the Gateway Taskforce to focus on Taranaki’s infrastructure and maximise the potential of the region’s port, rail, road and air assets

Position and promote Taranaki as New Zealand’s centre of oil and gas

Form a Frontier Team to proactively identify potentially transformational projects

Implement a Talented Taranaki campaign to grow, retain, inspire and attract a skilled population

Develop and launch the population campaign:“135 by 2035” seeking to grow the region’s population to 135,000

Establish a creative network to develop the sector and enhance innovation through collaboration with traditional industries

Prioritise retention and support of the region’s tertiary training institutions, especially WITT

Utilise the visitor and event strategies plus targeted campaigns to position Taranaki as a great place to live, work and play

Form a united leader’s group to promote Taranaki on the national political and economic agenda Partner with Mäori, to learn and engage on a range of economic and social matters and dimensions, including the Mäori economy and Mäori in the economy.

Develop a trans-Tasman strategy to underpin industry and ensure Port Taranaki’s sustainability Develop the East-West Corridor as a route of national significance Investigate formation of an export hub and associated infrastructure.

Investigate opportunities to increase growth in primary production Work with key food processors to identify needs and explore opportunities such as the fast food market Assist the region’s manufacturing sector to add value through initiatives such as Better By Design, Lean Manufacturing and cluster development Intensify assistance to businesses with high growth potential Improve relationships with major businesses in the region.

Making the vision a reality:

As a region Taranaki aspires to be the best. We are proud and parochial, believe in our abilities and are accustomed to exceeding expectations. This Strategy is about maximising Taranaki’s strengths and potential to provide a better future. Although Venture Taranaki,

Assess opportunities to enhance the superyacht industry Analyse the region’s natural resources Investigate the potential of niche opportunities such as carbon sequestration, the Square Kilometre Array telescope and specialist clusters Build on our film reputation by investigating film infrastructure.

Investigate tertiary and research linkages and opportunities Develop initiatives and pathways to encourage life-long learning and skill development Inspire and foster the future leaders of Taranaki.

Maximise potential opportunities from Rugby World Cup 2011 Build an environment that will attract people to the region. This may include assets such as a cultural and creative precinct, recreational marina and improved inter-regional public transport Ensure rural and urban digital structures are nationally and internationally competitive.

as the Regional Development Agency, will coordinate the delivery of this Strategy, achieving the vision will require leadership, commitment and investment from all corners of the community. The time to act is now.

Regional Economic Development Strategy 2010-2035

Our Future 8

Regional Economic Development Strategy 2010-2035

What Are We Doing And Why?

The Strategy is about ensuring the sustainability of future generations by building on the present to provide a brighter future. Much has been achieved in recent years, but we cannot afford to rest on our laurels. Taranaki should seek to respond to challenges and capitalise on new opportunities if the region is to shape its future and progress with confidence. Effective partnerships must developed and common goals and priorities for regional development agreed by all key stakeholders, in order to maximise these opportunities. Development of the Strategy has not begun from a blank sheet of paper. Significant background work has been undertaken to ensure the strategy is robust and meets the needs of Taranaki.

Taranaki aspires to be the best, and this goal is not unachievable. We are a proud and parochial region that believes in its ability and is accustomed to exceeding expectations.

We cannot and should not depend on market forces alone to shape our regionâ&#x20AC;&#x2122;s destiny.

The Taranaki Regional Economic Development Strategy has therefore been developed to assist strategic focus and co-ordination of economic activity leveraging the regionâ&#x20AC;&#x2122;s competitive strengths and pursuing new horizons to provide a vision of Taranaki in 2035.

lthough regional economic performance is often ultimately determined by global markets, national policy and individual business factors, collective action and intervention can make a positive difference. Examples of this are developments like the Think Big energy projects, the breakwater at Port Taranaki and the establishment of Kiwi Dairies.

Summary of key inputs that informed and shaped the Regional Economic Development Strategy

Infrastructure review

Perception research Consultation* ideas/issues/ concerns

Situation/SWOT analysis

The catalyst for developing the strategy comes from: Timeliness

The last Regional Economic Development Strategy was developed was 2002. Much has changed since then.

Opportunity

The Government (NZTE) offered to assist with funding for a refresh of the Strategy. Venture Taranaki successfully applied and was awarded partnership funding.

Maximising our potential Responsiveness

There is the need for responsiveness and proactive planning in the face of change and challenge.

Leadership

A strategy provides a basis for strong leadership through a common vision and a platform for united action, team work and regional confidence.

A better future

The desire to be the best and to ensure a future for the next generation which is even better than the past and present.

Regional pride

Taranaki people care deeply about the province. We cannot depend on market forces alone to shape our destiny.

Interventions

Taranaki has many competitive strengths and advantages. The Strategy is about maximising these.

Literature review research/related strategies

Comparative strategy analysis

Strategy Previous Strategy (2002)

Identification of vision themes and actions

*Consultation has been with: Individual businesses, Institutions (e.g. Port Taranaki, WITT, councils, public sector bodies) and through workshop sessions with the following sectors: Infrastructure, Industry, oil and gas, creative, go vernment agencies, professionals, rural sector.

The power of collective action and intervention can make a difference for provincial economies.

Regional Economic Development Strategy 2010-2035

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Manufacturing (engineering) The same trend is evident when considering the respective GDP contribution of the industries. This is shown in the following diagram where the relative importance of industries such as mining (oil and gas) stands out.

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Taranaki has a higher proportion of people employed in the following industries: Primary production and processing (especially dairy) Oil and gas exploration and extraction r ic Ag

Where Do We Stand Now?

Competitive advantages relative to New Zealand

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Employment composition in Taranaki relative to New Zealand, 2008. Employment (FTEs) 20%

Taranaki Region New Zealand

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Source: BERL Database, 2008

Taranaki economy – synopsis

GDP Composition in Taranaki region relative to New Zealand, 2008

Index 1994=100

As at March 2008 the region: Employed 46,400 FTEs in 14,300 businesses Generated $5.0 billion in Gross Domestic Product (GDP) Accounted for 2.5 to 3.0 percent of the New Zealand economy Has contributed $459 million annually to regional GDP through Taranaki’s M ori economy.

125 120 115 110 105 100 95 90

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There are approximately 105,000 people in Taranaki. Between 1996 and 2001 Taranaki’s population declined by around 3.5 percent but rebounded between 2001 and 2006 by 1.2 percent overall M ori comprise around 15 percent of the Taranaki population, and this proportion is increasing. By 2021, M ori could comprise around 20 percent of the Taranaki population More people in Taranaki than nationally have basic or higher vocational qualifications Relatively fewer of the population have tertiary qualifications.

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Taranaki’s roading comprises state highways (SH3, SH3A, SH45) and local road network Port Taranaki is NEw Zealand’s omly west coast deep water port The region has a fully serviced regional airport with flights to major New Zealand cities Rail insfrastructure is predominantly used for movement of freight via the Marton to New Plymouth line The region has a full range of public amenmenties eg librairies and parks.

Taranaki comprises approximately three percent of New Zealand’s total land area The geographic location is defined by Mount Taranaki, one of New Zealand’s most recognisable landmarks Taranaki’s soils and climate are suited to high producing pastures. Approximately 60 percent of the region is used for high intensity pastoral farming Temperatures in the region are moderate and there is an abundant rainfall, contributing to an attractive green landscape. As the result the region could also be perceived as wet and cold Taranaki is centrally located between Auckland and Wellington in drive, flight and shipping terms, but can also be perceived as isolated, out on a limb and a long way to travel to.

Insfrastructure

Source: BERL Database, 2008

Employment (FTEs) 20%

Regional Economic Development Strategy 2010-2035

Taranaki Region

145

Index 1994=100

Taranaki location and geography

135 125 115 105

199

Strengths, Weaknesses, Opportunities, Threats (SWOT) Analysis. Perceptions about Taranaki from people who do not live here First three things which come to mind when thinking of Taranaki Key industries associated with Taranaki

Taranaki’s most positive attributes

Taranaki’s least favourable attributes

The Mountain (Mount Taranaki) Beaches, ocean, the coast Mentions of individual towns. Farming, rural sector, food processing (e.g. Fonterra) Oil and gas Tourism. The attractivness of the landscape The spirit of Taranaki and its people Opportunities and amenities for outdoor activity, recreation and sport Progressive and offers a good work-life balance. Career progression opportunities Employment opportunities Tertiary education Location - geographical distance, isolation, travel time Weather - rain, cost.

The survey also highlighted that people who live outside of the region are often unaware of Taranaki’s amenities such as the airport.

Perceptions about Taranaki from people who live here Taranaki residents were found to be strong advocates for the region. 83 percent of survey respondents stated they would recommend Taranaki to others as a place to live. Relative to the perceptions of non-residents, Taranaki residents tended to rank Taranaki:

More highly on most catagories

At similar levels to non-residents

Less favourably than non-residents

Cafes, arts and culture Sports, events As a place for business Progressiveness Weather and climate. Wage rates and career progression Employment opportunities The regional economy Tertiary education offering.

Perceptions about Taranaki Perceptions about a region can impact on economic development as they may play an influential role (positively or negatively) on decisions such as where to live, invest, work and visit. Independent research was commissioned by Venture Taranaki to determine perceptions about Taranaki amongst people from outside the region as well as residents. The following table summarises the strengths, weaknesses, opportunities and threats facing Taranaki and its regional development. It was developed in consultation with a wide variety of stakeholders.

Strengths

Weaknesses

Natural environment: mountain, conservation estate, coast, gardens Parochialism and can do attitude: strong local identity Excellent soils and climate for growing things Dairy: primary and processing Large food processing companies Proven oil and gas reserves and support base Good infrastructure and amenities Port Taranaki Sound asset base: TLAs, trusts, TSB Bank People: spirit, attitude, regional pride Positive perceptions about Taranaki: clean, green, healthy location to live, beautiful landscape, work-life balance.

Opportunities

Isolation Accessibility Population base: lack of growth Reliance on commodity exports/global markets and exchange rates Reliance on oil and gas and dairy Tertiary sector and research: lack of a university Perceptions of Taranaki from outside the region: isolation, poor weather, lack of career progression routes Skills: shortages in specialist areas, lack of lifelong learning culture.

Threats

Port Taranaki: gateway to Australia, coastal shipping Service centre for energy: building on oil and gas Food development and processing Oil and gas exploration: Taranaki successes Urban form: liveability Connectability throughout region M ori integration into economic and social development Demographic and social changes: aged and health care, environmental consciousness Added value industries: using design, creativity.

Variable markets for oil, gas and food Variable exchange rates Population decline Relevance to national economy Losing tertiary relevance, infrastructure and services as lack national significance Continued divergence from national growth rates Loss of major business and /or supply chains/routes Major oil/gas find in distant New Zealand location – shift of local services.

Road, traffic congestion Housing affordability Crime and safety concerns.

Regional Economic Development Strategy 2010-2035

What Do We Want To Change? Demography Looking at two key indicators - population and employment - Taranaki is on a diverging path from New Zealand, mainly due to its small, static and ageing population.

Taranaki Economic Performance

Unlocking our future There is a need for regional leaders and people to take control of our destiny. Regional leadership needs to: Agree to a common vision for Taranaki and acknowledge it will take regional intervention, including allocation of resources, to achieve the vision Take an intergenerational view to implementing change. This is not the performance path of a resilient sustainable region and suggests transformational change is required.

Addressing skill requirements Businesses need skilled workers to meet their current and future needs and improve productivity, innovation and business growth. However skill shortages exist in the region and specialist skills can be difficult to attract and retain. These shortages must be addressed through initiatives that include: may creating education pathways for lifelong learning, offering Research and Development support for business and development of high-level research and training in niche sectors such as oil and gas or engineering.

Geographic isolation Taranaki is perceived as isolated from the rest of New Zealand. Its road and rail links to the rest of New Zealand are in relatively poor condition by international standards.

Regional Economic Development Strategy 2010-2035

The region needs to turn its geographic position into an advantage. When considering location from a trans-Tasman perspective Taranaki is centrally positioned in relation to the eastern seaboard of Australia.

on Taranaki’s performance and community outcomes. Interaction with these businesses must occur to encourage them to consider the broader impacts of their presence to the region’s development prospects.

Advances in technology must also be captured to mitigate the negatives of geographic isolation.

Environment - growth balance Taranaki has a significant conservation estate incorporating, in particular, Mount Taranaki and the surrounding Egmont National Park. Development of enterprises based around these areas could be beneficial to the region but must be assessed in terms of the restrictions governing the commercial use of the conservation estate and the need to preserve unique environments. Taranaki also has untapped natural reserves of potential value but any maximisation of these resources would require considerable care to maintain the region’s unique natural assets.

Transport infrastructure Areas of need that have been identified in this strategy include: Upgrades to the rail lines Improvements to State Highway 3 north of the region. Connectivity of SH3 to Port Taranaki. There are a number of projects aligned to the Port around trans-Tasman and coastal shipping Transport links within the region.

Encouraging investment and diversification Investment must continue to support core infrastructure assets and the region’s critical foundation industries such as oil and gas, dairy and engineering. However it must also be encouraged into lifestyle and ‘frontier’ assets to ensure Taranaki is progressive, competitive and contemporary.

Competing in a global economy Taranaki is exposed to fluctuations in global commodity prices as well as the exchange rate. To mitigate this exposure the region needs to: Diversify its product lines to reduce reliance on commodity pricing Apply an innovation driven approach to add value to existing products, moving the region from being a ‘price taker’ and into a ‘price setter’ position.

Partnership with Mäori Taranaki Mäori have opportunities to take substantial strategic positions in key aspects of the growth and development of Taranaki. Collaboration and coordination is required to realise these opportunities.

Relationship with big business Taranaki is relatively unique in that it has a number of big businesses whose corporate head offices are located outside the region, or in some cases outside New Zealand, but whose investment decisions can have a significant bearing

Taranaki resonating on the national agenda Taranaki is frequently overlooked on the national political and economic agenda. Taranaki’s economy, however, is inextricably linked to the national and global economies and policy frameworks. Taranaki missing out on national discussions on growth can have detrimental consequences to the region’s services, visibility, viability and ability to influence outcomes in a broader context. This needs to be addressed.

Regional Economic Development Strategy 2010-2035

Where Do We Want To Be?

Vision: By 2035, Taranaki will be a progressive, growing, west-ward-looking province, of national significance, renowned for its people, culture, talent, rich natural resources and desirable location.

TEAM TARANAKI

GATEWAY TARANAKI

We Want Taranaki To Be: Considered significant nationally An international trans-Tasman gateway Economically diverse with foundation and high-value, frontier industries A prosperous liveable region with a growing population A community of highly educated and talented people A region where our children and grandchildren can stay and build rewarding careers

A hive of creative, progressive thinkers and doers A region of bold, courageous leadership At the cutting edge of innovation A place that embraces its proud history and culture Cohesive, with strong communities A region that fosters growth while respecting the environment.

FOUNDATION TARANAKI

FRONTIER TARANAKI

Desirable, impressive, progressive, spirited, legendary - a region like no other.

Vision

Strategic Themes

A 3 Year

One

Six

To achieve this the strategy has developed:

Action Plan

TALENTED TARANAKI

DESIRABLE TARANAKI

Goal: To build partnerships and harness the collective energies and spirit of the Taranaki people and its leaders to benefit Taranaki’s growth.

Goal: To connect Taranaki locally, nationally and internationally, removing the geographic issue of isolation and building on the region’s proximity and access to Australia.

Goal: To maximise the potential of Taranaki’s core industries by adding value to the region’s traditional sectors and enhancing business capability, innovation, productivity and export development.

Goal: The pursuit of new horizons, industries and projects that foster diversification, growth, and/or perception shifts to enhance Taranaki’s regional development.

Goal: To create a regional culture where innovation, talent and lifelong learning are valued and to ensure Taranaki businesses have the skills to support current and future needs.

Goal: To make Taranaki the preferred place to live, work and visit, in order to achieve the population target of 135,000 by 2035.

Regional Economic Development Strategy 2010-2035

Team Taranaki TEAM TARANAKI

Goal: To build partnerships and harness the collective energies and spirit of the Taranaki people and its leaders to benefit Taranaki’s growth.

Successful regions display a number of common characteristics including a clear and well articulated image and purpose, strong leadership and effective partnerships and networks. The ‘Team Taranaki’ approach recognises the need to develop these characteristics and seeks to harness the power of collective leadership and commitment to a common goal to achieve regional growth.

Gateway Taranaki GATEWAY TARANAKI

Goal: To connect Taranaki locally, nationally and internationally, removing the geographic issue of isolation and building on the region’s proximity and access to Australia.

Taranaki has always faced challenges of relative geographic isolation, lack of critical mass and attracting nationally funded services and infrastructure. A key focus of the strategy is to reposition Taranaki as an accessible strategically significant trans-Tasman gateway of national importance.

East–West Corridor development Development of the East-West Corridor across the central North Island – a zone which accounts for a large proportion of New Zealand’s food production – is an intergenerational concept which would allow fast, effective and efficient transport of products trans-Tasman via Port Taranaki.

Export and transport developments Proactive investigation of an export hub and associated fast shipping developments could provide innovative new services and productivity enhancements for New Zealand exporters. These developments will leverage the region’s trans-Tasman focus and create market opportunities for time-sensitive freight.

ACTIONS >> Regional Strategy commitment Commitment from all stakeholders is critical to achieving the outcomes of the Regional Strategy. Taranaki must adopt and present a united and integrated approach on key areas of strategic concern and opportunity. Taranaki Councils, institutions and stakeholders will be asked to confirm strategic priorities and commit resourcing towards realising the Strategy.

Engagement and partnership with Mäori There are opportunities for greater partnerships between M ori and the wider Taranaki community. Partnerships will be formed to engage and assist on a range of economic and social matters to grow the M ori economy and role of M ori in the regional and national economies.

ACTIONS >> Gateway Taranaki taskforce Transport infrastructure presents both a major barrier and an opportunity to the region. The establishment of a regional taskforce to ensure a coordinated and comprehensive approach to maximising Taranaki’s infrastructure for the future is paramount. The taskforce will assist with identifying, investigating, and where appropriate implementing potential developments to the region’s road, rail and air gateways.

Trans-Tasman strategy A United Taranaki A united leaders group will be formed that can monitor and respond to national and international issues and opportunities where a collective stance is required. The primary objective is to ensure that Taranaki remains high on the national agenda.

Taranaki’s proximity to Australia aligns well with the current national agenda of strengthening economic links with our trans-Tasman neighbours. A strategy to shift the focus westward will enable the region to develop stronger transTasman relationships, underpin regional export endeavours, and leverage New Zealand’s only West Coast deep water port to position the region as integral to national supply chain developments.

Regional Economic Development Strategy 2010-2035

Foundation Taranaki FOUNDATION TARANAKI

Taranaki has established competitive advantages across a number of industries. Foundation Taranaki seeks to leverage growth by building on what the region already does well and assisting wealth creation and productivity through new and existing business expansion.

ACTIONS >> Oil and Gas Taranaki is the market leader in the New Zealand oil and gas industry with proven reserves and a mature support base. Developing a strategy that builds on traditional and comparative advantages will consolidate and promote the region’s leadership position.

Food Processing The strategy will complement the Governments proactive approach towards developing this sector. Specific initiatives will include: A stocktake of capabilities and expertise to identify growth opportunities A campaign to position and market Taranaki as New Zealand’s centre of oil and gas Scenario planning to future-proof the industry and maximise economic returns Developing closer relationships with government agencies.

Primary production Primary production is a traditional cornerstone of the Taranaki economy but has shown minimal GDP growth over the last decade. There is potential to leverage additional growth through: The formation of a rural development taskforce to identify growth opportunities Investigation of a high performance farming network to foster advanced skills and career pathways Addressing rural infrastructure needs Identifying alternative land use and business opportunities.

A significant proportion of regional GDP and employment in this area is centered on a few major food processors. It is critical to support retention and growth of these organisation and explore avenues for expansion through: Gaining a greater understanding of their businesses, structures and needs Exploring opportunities to add value, for example by capitalising on the fast food market and transTasman potential.

Engineering and manufacturing Taranaki has proportionately greater levels of GDP and employment in engineering than the rest of New Zealand. A review of the entire industry and the development of strategies for growth could further enhance the sector. Initiatives will seek to: Review product development progress, barriers and opportunities including niche engineering, export development, skills and promotion Assist the region’s engineering businesses to add value through initiatives such as Better By Design, Lean Manufacturing, cluster development and active promotion of innovation and research and development support.

Big Business relationships A small number of major companies account for a considerable proportion of regional employment. Ensuring these businesses remain active in Taranaki is important to the region’s sustainable growth and will be facilitated by: Developing and implementing a relationship plan to gain a better understanding of the rationale, rewards, challenges and risks these businesses face Assessing levels of foreign investment in Taranaki through corporate presence Undertaking an Emissions Trading Scheme study of Taranaki given its potential impact on a number of key industries.

Globally competitive innovative businesses Taranaki businesses must continually improve and adapt to grow and in turn increase regional prosperity. Taranaki’s limited resources could be used most effectively to provide support for businesses with a willingness, potential and/ or readiness for high growth. The strategy will therefore: Identify and intensify assistance for high growth businesses including systems and support, innovation and creativity and export development.

Regional Economic Development Strategy 2010-2035

Frontier Taranaki FRONTIER TARANAKI

Goal: The pursuit of new horizons, industries and projects that foster diversification, growth, and/or perception shifts to enhance Taranaki’s regional development.

Taranaki is dependent on a handful of industry sectors that leave the regional economy susceptible to external factors such as global commodity prices, exchange rate fluctuations and business cycles. Diversification of Taranaki’s industrial base will create a more stable and robust regional economy.

Horizon filming facility A Horizon Tank is an infrastructural requirement for filming currently in short supply globally. Taranaki could provide a potential location for such a facility which would enhance New Zealand’s overall competitive offering as a film destination. This opportunity will be further investigated.

ACTIONS >> Frontier team formation The creation of a frontier group that will act as a hub, catalyst, testing station and project management mechanism will enable the region to proactively identify and respond to potentially transformational projects.

Creative network establishment Creativity can add value across a wide range of industries and sectors. Assessing the region’s creative economy and building a network will encourage collaboration between creative and traditional industries in order to increase competitiveness in new and global markets.

Square Kilometre Array location The Square Kilometre Array (SKA) project is a collaboration between 17 countries to establish the world’s largest telescope. Should the telescope be constructed in New Zealand/Australia, there exists an opportunity for Taranaki to participate in the project. Liaison with the SKA task group will be established to promote Taranaki’s involvelment.

Natural resource analysis Taranaki is rich in natural resources beyond oil and gas. It is important the region understands the full extent of its natural resource deposits and the opportunities they present as well as the conservation implications.

Superyacht industry Taranaki’s superyacht industry has become a valuable contributor to the regional economy. Taranaki must assess the barriers and opportunities facing the sector to ensure it is retained in the region and its growth potential maximised.

Niche investigations Development of the Regional Strategy has identified potential development areas which warrant further investigation. Opportunities in healthcare, tourism, water footprinting, Carbon sequestration, alternative energy and other sectors will be prioritised and reviewed as appropriate.

Regional Economic Development Strategy 2010-2035

Talented Taranaki TALENTED TARANAKI

Goal: To create a regional culture where innovation, talent and lifelong learning are valued and to ensure Taranaki businesses have the skills to support current and future needs.

People are the most important asset to the Taranaki region. Improving the skills of the workforce and cultivating a culture of learning is central to Taranakiâ&#x20AC;&#x2DC;s Regional Economic Development Strategy.

ACTIONS >>

Foster the future leaders of Taranaki The region needs high quality global leaders who can inspire and drive regional innovation. The development of a global scholarship programme for our rising business stars and the establishment of an alumni network to maintain connections with Taranaki diaspora are two methods that will be utilised.

Talented Taranaki campaign To enhance growth and remove barriers to development, Taranaki must address skill shortages and boost productivity. The Talented Taranaki campaign will be developed and implemented to grow, retain, inspire, and attract on educated and skilled community.

MĂ¤ori tertiary development Development, encouragement and support of initiatives that foster the skill requirements and career aspirations of M ori.

Specialist tertiary and research facility investigations Retain tertiary training institutions Higher learning institutions affect the perceptions of a region. They encourage knowledge intensive businesses, impact on work-live decisions and play a critical roal in servicing business and community education needs. Effort must be made to ensure that WITT and other private training institutions remain viable.

Identifying tertiary and research institute opportunities and linkages as they arise will enable the region to build on existing education infrastructure.

Taranaki Talent and Learning Pathways showcase The development of a campaign to inspire people of all ages to engage in further training and learning pathways will seeks to change culture and encourage participation through role modeling.

Regional Economic Development Strategy 2010-2035

Desirable Taranaki DESIRABLE TARANAKI

Goal: To make Taranaki the preferred place to live, work and visit, in order to achieve the population target of 135,000 by 2035.

To remain sustainable and provide the desired level of infrastructure, services and amenities, Taranaki must establish a challenging population target of 135,000 residents by 2035. An increased population will help to diversify and stabilise the regional economy, encourage higher incomes, allow economies of scale and faciliate higher quality additional infrastructure and amenities as well as an enhanced social and cultural environment. Although actions in this section aim to increase Taranaki’s desirability as a region, the population target will not be met unless the entire strategy is successful.

ACTIONS >> Promotion campaign This campaign will position Taranaki as a great place to live, work and play with the aim of attracting new and returning residents. The campaign will build brand identity, address perceptions about the region and attract visitors.

Mäori tourism development Enhanced collaboration with the Taranaki M ori leaders and stakeholders will present opportunities to establish, package and promote tourism opportunities.

Conservation area – best use project DOC conservation areas Mount Taranaki and the Egmont National Park are tourism icons in the region. There are opportunities to further leverage these attractions, balancing access and protection, that need to be investigated.

Encourage and support events Events generate economic benefits for the region, enhance regional visibility, pride and vibrancy and offer a hook to entice visitors to consider living and working in Taranaki. A diverse and sustainable portfolio of events must be maintained.

The campaign could include the following initiatives: Visitor strategy and product development Developing visitor product and increasing Taranaki’s tourism offering is critical to attracting visitors. An ongoing commitment to product development through identifying and facilitating opportunities will be established.

Rugby World Cup 2011 The region must seek to actively maximise the potential economic, social and cultural benefits around Taranaki’s three RWC 2011 matches and team hosting, through profile development, international visitor attraction, creation of legacy opportunities and leveraging business links.

Eastern Harbour redevelopment

Inter-regional public transport

The region stands to benefit, both commercially and recreationally, from enhancements to the harbour layout and facilities. Refining the business plan and addressing resourcing issues are the first steps to achieving this vision.

The investigation of creative new options for sustainable inter-regional transport, such as light passenger rail, could foster greater business, recreational and event connectivity.

Len Lye Centre and cultural precinct

Digital Strategy

Establishing a task force to investigate the development of a cultural hub in New Plymouth, with the proposed Len Lye Centre as a pivotal component, could visually transform a key area of the city, increase vibrancy and attract high-knowledge innovative thinkers to the region.

A greater understanding of rural and urban digital requirements and central government drivers will lead to the identification and investigation of initiatives to ensure the region can access sufficient broadband and technology to be nationally and internationally competitive.

Regional Economic Development Strategy 2010-2035

How Do We Get There? The Regional Economic Development Strategy adopts a long-term outlook for Taranaki and underpins the regionâ&#x20AC;&#x2122;s growth aspirations of a population of 135,000 people by 2035. To achieve the vision, teams and actions must be coordinated and projects prioritised.

Coordination Venture Taranaki Trust will undertake the overall coordination of the Strategy. Implementation of the Strategy will, however, require significant investment and commitment from beyond the Trustâ&#x20AC;&#x2122;s existing resources and capabilities. The Trust will therefore continue to work with stakeholders, agencies, and the private and public sectors to deliver the outcomes.

Progress An annual report will be produced that documents progress against defined measures, supplemented with timely project updates as required.

The living document It is important to ensure the strategy remains live, current and meaningful. The document will be formally revisited and updated on a regular basis to ensure relevance. While the vision and key themes will be enduring, actions and content may need to be updated to accommodate progress, opportunities and developments.

Establishment of priorities An action plan - defining specific interventions, implementation and necessary commitments - has been developed for the next three years. Given the diversity of the strategic themes, the number of potential actions, differing stages of readiness and resourcing constraints, not all actions can be implemented at the same time. Actions have therefore been prioritised against a list of criteria that includes wealth creation, impact, future prosperity, do-ability, whether the action is a critical issue and the willingness by stakeholders to undertake the project.

Regional Economic Development Strategy 2010-2035

Three Year Priority Action Plan Team Taranaki ACTIONS

TASKS

YEARS

Gateway Taranaki ACTIONS Formation of Gateway Taskforce

PARTNERS 38

A United Taranaki

Partnership with Māori

Obtain commitment to the Taranaki Regional Economic Development Strategy.

VTT, TLAs, key industry, key institutions.

Establish engagement and participation between groups/agencies on Iwi and Māori opportunities on Public Private Partnerships.

Iwi Leaders Forum, Tui Ora, Te Kupenga Mātauranga O Taranaki, Mäori agencies and groups, TLAs, VTT.

United Taranaki Group formation.

VTT, TLAs, stakeholder groups including industry, infrastructure, health, education.

38 TLA’s = Territorial Local Authorities/Councils; VTT = Venture Taranaki trust; TRC = Taranaki Regional Council; CAPENZ = Centre for Applied Engineering in NZ; TRFU = Taranaki Rugby Football Union; WITT = Western Institute of Technology at Taranaki

YEARS 2010/11

2010/11 2011/12 2012/13 Regional Strategy Commitment

TASKS

Trans-Tasman strategy

East-West Corridor

PARTNERS 38

2011/12 2012/13

Confirm group membership and Terms of Reference (TOR). Prioritise actions, secure budget and implement. Group initiatives to include a review of Taranaki road, rail and air gateways.

Gateway Group: VTT, TRC, TLA’s, industry, port, rail, air.

Package the East-West Corridor (including links to Blue Highway), write proposal and promote to stakeholders, industry and Government.

Gateway Group.

Develop strategy including linkages with trade, visitors, population campaign, skills etc.

Export hub Establish and undertake and trans-Tasman feasibility study, secure transport budget and expertise.

Gateway Group.

Regional Economic Development Strategy 2010-2035

Foundation Taranaki ACTIONS

TASKS

Frontier Taranaki YEARS

RESPONSIBILITIES

ACTIONS

TASKS

YEARS

2010/11 2011/12 2012/13 Oil and gas industry campaign

VTT, Oil and gas industry taskface.

Primary production/ rural potential programme

Form taskforce and define the forward plan and actions

Food processing

Host a round table of Taranaki food companies with linkages to fast food. Explore growth options and actions.

VTT, key Taranaki food companies.

Develop and (subject to resourcing) host a Taranaki workshop/conference for businesses on addedvalue processes to enhance business potential and innovation.

Big business relationships

Globally competitive innovative businesses

2010/11 2011/12 2012/13

Confirm plan components, tasks, budgets, and responsibilities. Secure resourcing then implement.

Engineering sector Review of product development progress, barriers and opportunities.

Review cluster development possibilities.

RESPONSIBILITIES

VTT, Dairy NZ, MAF, Fed Farmers, NZ Farmers, Ag ITO, Rural Dairy Womens Network, PKW, Taratahi.

Frontier Team formation Creative sector

Film

SKA VTT, CAPENZ, ET, engineering companies. VTT, Taranaki Better By Design companies.

Natural resources analysis

Superyacht industry

Undertake a mapping exercise of major Taranaki businesses/key personnel and develop a relationship plan.

VTT.

Commission an Emmission Trading Scheme study of Taranaki.

VTT, links with relevant expertise.

Undertake an assessment of FDI on Taranaki and extrapolate to New Zealand.

VTT, TLA’s, large international businesses based in Taranaki. NZTE/Investment NZ.

Formulate and implement an intensive programme for potentially high growth business.

VTT, high growth business task group.

Niche Investigations

Establish a team to serve a catalyst for new opportunities.

VTT, Frontier Team.

Investigate and report on the value of Taranaki’s creative industry.

VTT, NPDC.

Establish and launch creative network.

VTT, Puke Ariki, creative network database companies.

Promote film infrastructure opportunities to Government and potential industry investors.

VTT, Film NZ, Investment NZ.

Analyse and undertake a stocktake to confirm Taranaki’s natural resource opportunities.

VTT, GNS, universities and expertise.

Prioritise and review as appropriate.

VTT and task groups as appropriate.

Establish relations with SKA task group and assist in determination of Taranaki opportunities.

VTT, SKA national task group, MED.

Provide a briefing to partners on the value and potential of the industry to Taranaki. Including barriers and opportunities.

VTT, Fitzroy Yachts, Port Taranaki, TRC.

Regional Economic Development Strategy 2010-2035

Talented Taranaki ACTIONS

TASKS

Desirable Taranaki YEARS

RESPONSIBILITIES

ACTIONS

TASKS

YEARS

2010/11 2011/12 2012/13 Talented Taranaki campaign

Taranaki talent and learning pathways

Foster Taranaki’s future leaders

Mäori tertiary development

Specialist tertiary facility investigation

2010/11 2011/12 2012/13

Launch and implement of Venture Taranaki’s skills strategy – inspire, grow, retain, attract.

VTT in conjunction with TLA’s, key industry and training institutions.

Create and implement a campaign to showcase career pathways.

VTT.

Tertiary institution Establish and maintain sustainability communication links with stakeholders on progress and issues.

WITT, with support from TLA’s, TSB Community Trust and TET.

Develop and implement

VTT, Tui Ora.

Develop and implement a Taranaki alumni programme.

VTT.

Investigate and respond

VTT, Frontier Group, tertiary institution.

a global sholarship programme.

Consult on the strategic plan 2010 - 2020 for Taranaki Mäori Tertiary Education.

to opportunities regarding tertiary and research institutes, eg feaibility of a Mäori Research Center.

Te Kupenga Mātauranga O Taranaki.

Promotion campaign Visitor strategy product development

Mäori tourism development

Conservation area – best use project

Events

Define the campaign approach. Secure resourcing and implement.

VTT lead, links with TLAs. Multiple agencies depending on specific projects.

Establish a formal system to underpin ongoing product development opportunities.

VTT.

Prioritise and initiate product development ideas.

Eastern Harbour redevelopment

VTT lead, links with TLAs. Multiple agencies depending on specific projects.

Engage and collaborate on opportunities with, and between Mäori operations, agencies and groups.

MRTO, VTT.

Maintain and develop a diverse and sustainable portfolio of events.

VTT, TLA’s, event agencies/organisers.

Refine business case for Eastern Harbour redevelopment and progress implementation options with stakeholders.

VTT, TLA’s, event agencies/organisers.

Investigate opportunities for Department of Conservation areas with specific emphasis on Mount Taranaki/Egmont National Park best use.

Rugby World Cup Strategy, initiatives 2011 opportunities confirmed and implemented.

Len Lye

RESPONSIBILITIES

Implement agreed forward plan as appropriate.

DOC, VTT.

NPDC, VTT, core Taranaki team e.g. TRFU, TLAs, Sport Taranaki.

Monitor proposal and implement outcomes as appropriate and including cultural precinct

NPDC.

Initiatives to foster a creative look and feel to the city.

NPDC/VTT, existing businesses in area.

Regional Economic Development Strategy 2010-2035

Desirable Taranaki ACTIONS

TASKS

YEARS

RESPONSIBILITIES

2010/11 2011/12 2012/13 Regional public transport

Digital strategy

Undertake a review of long term public transport requirements within the region, including innovative possibilities.

Develop a digital task group and strategy action plan to determine the next stage of tasks and responsibilities.

VTT, TRC, STDC, WITT, TDHB, NPDC, SDC.

VTT, industry stakeholders.

Regional Economic Development Strategy 2010-2035

Our Future

Taranakiâ&#x20AC;&#x2122;s Economic Development Strategy 2010-2035

Cause&effect 0046

9 Robe Street - PO Box 670 New Plymouth 4340 - NEW ZEALAND Tel: (06) 759 5150 - Fax: (06) 759 5154 E-mail: info@venture.org.nz

For more information: www.taranaki.info