A total of $13.9 million is being invested into the Bay of Plenty.

The government has made the announcement today saying it is part of a $48.5 million investment into 13 projects around New Zealand.

The Regional Strategic Partnership Fund is a $200 million fund set up in 2021, partnering with regional entities to invest in projects that they and the region have identified as regional economic development priorities.

 “We continue to invest in those regional economies such as the Bay of Plenty where unique business activities can flourish in those local settings. We want to support economies to become more productive, resilient, inclusive, and sustainable,” says Minister for Regional Development Hon Kieran McAnulty.

The fund also focusses on accelerating Māori economic aspirations and support sector transformations, with a focus on firm-level and commercial investments.

“This $13.9 million will give New Zealand’s mussel industry greater resilience against biosecurity and climate challenges. 

“Aquaculture is a key sector for regional economic development in the Eastern Bay of Plenty and the government has made several strategic investments to unlock Ōpōtiki’s comparative advantage

“Since 2018, $3.2 billion has been paid out from the eight regional investment funds to support our region’s economies. A staggering 1,148 projects have already been completed.

“Through a mix of grants, loans and equity, we’re investing in projects that will enable our regional businesses to continue to grow.”

Regional Strategic Partnership Fund investment in Bay of Plenty includes:

 -Te Whānau-ā-Apanui (via Te Huata), $13.9m equity.