"Provided we got a good chunk of the $1 billion fund every year, this would be good," he said.
Mr Brownless questioned whether the Government would make major decisions or if local councils would get "some sort of say."
Priority One chief executive Nigel Tutt said he expected the increased investment in regional economies would benefit the Bay of Plenty region.
Mr Tutt said the regional development fund "should be positive" as it would allow further investment in infrastructure, research and development and transport links.
"This investment is very much needed in a growth region such as ours."
Mr Tutt said he would also expect the Port of Tauranga to be featured prominently in any discussion around a proposal to move the Ports of Auckland to Northport near Whangarei.
"We hope that the needs of regional industry are taken into account in more detailed immigration policy when they are formed," he said.
Tauranga Chamber of Commerce chief executive Stan Gregec said it was "good to hear" the new government was prioritising the regions and job creation.
"Western Bay is already facing serious shortages of skills and labour, so we're not sure how this will play out for us," he said.
Mr Gregec said it looked like there would be some changes to New Zealand's "fundamental economic settings."
"We encourage the government to work with employers to manage requirements around talent, especially on a regional level, and the Chambers of Commerce are keen to play their part in this."
Greater Tauranga member Heidi Hughes said the focus on regional rail was a "really positive" step in creating a more sustainable city.
Ms Hughes said she would like to see an Auckland, Hamilton, Tauranga passenger rail get "serious consideration" following the policy announcement.
She said she would also like to see a focus on "getting freight off the roads and on to rail".
Labour MP Angie Warren-Clark said the party had campaigned to see a fast rail option implemented in the area and was "hopeful" to continue the plan.
Ms Warren-Clark said the proposed Golden Triangle between Auckland, Hamilton and Tauranga would be an "economic force".
"The link would open up our region," she said.
The list MP said it was also important to support the region's major industries such as forestry and kiwifruit which had grown in "leaps and bounds."
Bay of Plenty MP Todd Muller said any fund that would deliver economic benefit for the Bay of Plenty region would be positive but said the region would need to get an "appropriate portion" of the Regional Development Fund.
Mr Muller said the National Party promised investment in infrastructure and roading because Tauranga was the fifth largest city and had the fastest growth in the country, but he had "real concerns" the Green Party may not invest in those policies.
"The proof will be in the pudding," he said.