The Bay of Plenty economy has received a NZD390,000 (US$276,126) boost from the government for projects in the forestry, aquaculture, energy and supply chain industries.
New Zealand Trade and Enterprise (NZTE) granted the money through the Bay of Connections Regional Governance Group, chaired by Bay of Plenty Regional Councillor John Cronin.
It is the second grant of its kind in two years. NZD360,000 (US$254,895) was received in 2008.
Cronin said the region received the new funds because the economic development agencies and Bay of Plenty Regional Council had delivered good results, and NZTE believed that the projects proposed for the next 12 to 18 months would add significant value.
"Over the long term, these projects will not just contribute to the local economy, but will be significant at a national level," he said. "We could have the largest aquaculture farm in New Zealand. We could be one of the country's largest energy producers and exporters, and be a world-class producer of high-value forestry products."
The projects were agreed on by the Regional Governance Group and the economic development agencies.
They aim to establish a Regional Aquaculture Organisation and operating procedures, develop a region-wide profile of the emerging aquaculture industry, future infrastructure needs and industry directory, and develop a preliminary business case for the Opotiki Harbour development and a communications plan.
