Waikato’s strengths drive economic development priorities

The Waikato region is set to build on its core strengths to drive a new phase of economic growth, following endorsement of a draft Regional Economic Development Strategy at the Waikato Regional Council Regional Growth and Resilience Committee meeting yesterday.

The draft strategy highlights the region’s strengths – No.1 in New Zealand for share of freight movements, No.1 for share of bioeconomy, No.1 for share of electricity generation capacity, No.2 for share of food manufacturing, No.3 for fastest growing urban area in New Zealand and No.1 for value of Māori asset base – as six intertwined opportunities to build on to increase employment, productivity and incomes. 

Committee Chair Cr Keith Holmes said the approach reflects a clear intent to leverage what the Waikato already does well, for the benefit of the region and New Zealand.

“Waikato plays a pivotal role in New Zealand’s economy. By focusing on our natural advantages – our people, land, industries and innovation – we can unlock stronger, more resilient growth that benefits both the region and the country,” said Cr Holmes.

“Waikato is open to business, and we are working to create the portal and reduce the barriers.”

The committee heard that the council’s role in economic development is to help create the right conditions for growth through coordination, planning and partnerships with iwi, local government, industry and central agencies. 

The draft strategy is being developed with strong evidence-base and will be refined through engagement with stakeholders across the region, ahead of adoption by the council expected by the end of June. The strategy is expected to be a living document by identifying short-term initiatives with committed contributions from different parties.

The University of Waikato and Ministry for Primary Industries (MPI) presented to the committee, reinforcing the importance of investing in areas where the Waikato is well positioned to ‘think differently’ and has clear strategic advantage.

University of Waikato Vice Chancellor Professor Neil Quigley and Fundraising Director Dr Nicole Bassett highlighted the opportunities presented by the New Zealand Graduate School of Medicine, which is identified in the draft strategy as an initiative in progress in the region. 

Mr Quigley told the committee that the school would be investing in community clinical learning centres and accommodation in communities like Tokoroa, Te Kūiti, Thames and Taupō, where students will be trained and work in the GP clinics and hospitals – and likely remain working after becoming qualified. This would contribute to the economy and social fabric of those areas. 

The committee also heard from MPI’s Chief Insight Officer Jarred Mair about new technology creating new business capabilities that could be harnessed through a regional economic development strategy. 

Cr Holmes said Mair’s presentation gave insights into technologies that could be a good fit for the Waikato region based on its strengths.

“We heard about ways that biomass is being used to create renewable energy; about creating growing systems that don’t need synthetic fertiliser and have lower cost inputs; and about water creation technologies that will improve access to water.

“These are all things we should be considering, and the draft strategy notes that Waikato can contribute more to increasing economic productivity for New Zealand.” 

The committee endorsed further engagement on the draft strategy, with targeted consultation planned with stakeholders across the Waikato.

“The council’s role is to be an enabler in economic growth. It’s important, as a region, that we have a combined voice and all stakeholders are on the same page. This strategy gives us shared priorities, and identifies economic outcomes and actions for success,” said Cr Holmes.