$18 Million Funding Boost for Bay of Plenty Business ParkRegional Economic Development
The Rangiuru Business Park project near Te Puke is getting $18 million from the Provincial Growth Fund (PGF), Under-Secretary for Regional Economic Development Fletcher Tabuteau announced today.
“This is all about unlocking the potential of this region. When it’s finished, the Rangiuru Business Park will be the Bay of Plenty’s largest consented green field industrial zone,” Mr Tabuteau said.
“The Rangiuru Business Park will be developed near Te Puke between two major roads, the Tauranga Eastern Link and the existing State Highway 2. This PGF investment will fund the construction of an interchange connecting the industrial park with the Tauranga Eastern Link road.
“The business park will be built on 226 hectares of land and the construction phase alone will create more than 200 jobs, while in the medium to longer term, it is predicted four thousand jobs will be available at Rangiuru, half of them high paying positions.
“At the moment, the region’s other industrial developments are at capacity, but once Rangiuru is finished, it will provide local industries with the space they need to develop.
“These opportunities will be a significant boost to workers and their families, and in turn, the region’s economy. It will also support the Bay of Plenty’s quick recovery from the impacts of Covid-19.”
“The Business Park has been planned for ten years, with strong support from local government, communities and business. I am delighted to announce today’s funding to help get the project moving.
“The PGF is a circuit breaker. It gets long-planned projects moving by providing financial support and I am delighted to deliver this good news today,” Fletcher Tabuteau said.
Note to editors:
All approvals are in principle and subject to contract negotiations. Investment values are also subject to change.