Economic Development
Economic Development
Please note that this information was provided for the 2022 Local Government Elections and may now be out of date.
Economic Development is programs, policies or activities that seek to improve the economic wellbeing and quality of life of a community. This can range from supporting education, encouraging and enabling employment, provision of infrastructure, to regulatory frameworks, to promotion, to events, to investment in new experiences and more. Economic development can be defined as the sustained, concerted actions of policy makers and communities to promote the standard of living and economic health of a specific area (i.e. the changes in the economy).
Economic development differs from economic growth. Whereas economic development is about policy intervention aiming to improve the economic and social well-being of people, economic growth focuses on market productivity and rises in Gross Domestic Product (GDP). Economic growth is one aspect of the process of economic development.
What we currently do
We already deliver a number of these services as part of our business;
- Coordinating events (e.g. Business Awards, Industry Training Graduation, business breakfasts) and supporting events at Council venues
- Grant funding to promote and attract events
- Funding and partnerships with Te Waka (Regional Economic Development Agency) and Hamilton Waikato Tourism (Regional Tourism Organisation)
- Funding to support business and tourism
- Pride of Place - working alongside our communities to revitalise our CBDs
- Te Aroha Spa development - investing in a new spa to create jobs and attract visitors
- Providing infrastructure and regulatory frameworks that support and encourage development and investment.
- Proposed Plan Change for Waharoa to enable further industrial development and investment
- Land purchase of industrial land in Te Aroha
What's on the horizon?
Challenges
- Our strong reliance on tourism in recent years saw a sharp dip in Gross Domestic Product for our District as a result of Covid-19. As the borders are re-opening many businesses are looking towards the ‘new normal’ and what this means for their business.
- The global skills shortage, limited housing stock and public transport available in the district makes it challenging to attract and retain new talent.
Opportunities
- Our District is traversed by state highways and railway lines. With the development of the Inland Port at Ruakura, this provides an opportunity to further capitalize on our high quality soils and agricultural manufacturing abilities and expanding on the freight movement through our district.
- As our local iwi reach their Treaty Settlements, they are increasingly looking to invest in education and employment opportunities for their whanau and the wider community. This provides opportunities for partnerships that will benefit all of our district.
Questions to consider
- What is your vision for the economic prosperity of our communities?
- What is Council’s role in promoting economic development and attracting investment and employment opportunities?
- Who and how can we partner with others to improve the economic wellbeing of our communities?
