News from around the globe
A TIME FOR RESILIENCE
The government’s $12.1b stimulus package designed for businesses bearing the brunt of Covid-19 has been welcomed by Economic Development NZ (EDNZ). The package includes a $5b wage and $126m leave payment subsidy to support self-isolation.
“The quantum of the package at 4 percent of GDP is significant and encouraging to regions working with small and medium sized businesses. The comprehensive approach taken by the New Zealand government to widen the safety net during these very challenging times are appropriate, good practice and aligned with the policy remedies recommended by the OECD. This support is critical to ensure we head towards a resilient outcome for our people, companies, towns, cities and regions” says chair Pam Ford.
PAM FORD ELECTED AS CHAIR OF EDNZ
Auckland economic development leader Pam Ford takes the up role of chair of the newly constituted Economic Development New Zealand (EDNZ) this month.
She is general manager economic development at Auckland Tourism, Events and Economic Development (Ateed), an Auckland Council-controlled organisation.
EDNZ ELECTS NEW BOARD
The resurgence of Economic Development NZ (EDNZ) over the past two years has been rapid and transformational. The election of a new Board, one that is more representative of its new membership structure, was identified by the current Board as key to the completion of that transformation.
The election has now been held and EDNZ is delighted to share the election results with you.
RED NEEDS A BRUSH UP
‘The delivery of regional economic development (RED) in New Zealand needs a far stronger focus than it currently has. The main issue is in how we do it, but strategy and policy could do with a brush up too’ says the Chair of Economic Development NZ, Dr David Wilson. During the last two years as Chair I have witnessed ten regions and their regional development agencies (RDA’s) be subject to large scale reviews by their respective council owners with seven experiencing significant changes in executive leadership and restructures. This is not new, and while readjustment and realignment to regional needs is essential, constant reviews are somewhat endemic. Auckland, Northland, Southland, Manawatu, Rotorua, Nelson are the most recent in a long line.
CHAIR SEES PGF AS GIANT LEAP FORWARD FOR PROVINCIAL NZ
The new $1 billion per annum Provincial Growth Fund (PGF) has been officially launched in Gisborne today by Regional Economic Development Minister Shane Jones. Chair of Economic Development NZ (EDNZ) Dr David Wilson, has applauded the PGF as ‘a giant leap forward’ for provincial NZ. You don’t have to be a rocket scientist to have seen the increasing gap between the haves and have nots in NZ and in many cases between rural and urban New Zealand. “Internationally many nations are struggling to find ways to create an environment where the tide rises for all regions. Governments are responding to globalisation and urbanisation, and dealing with the associated pressures on provinces and rural regions. However, by actively focusing on addressing infrastructure deficits and building on regional strengths these trends can be addressed, and – as in New Zealand’s case where rural regions are already highly productive – create opportunities to leverage investment and create jobs.