"The key principles of the new institution should be accessible, affordable, quality education and I am confident both the former institutions have their own strengths which they will combine to create a better one moving forward."
Ian Turner, chairman of the Bay of Plenty Polytechnic Council, and Graeme Nahkies, chairman of the Waiariki Council, said they were looking forward to the opportunities the merger would bring to students, businesses and communities across the wider Bay of Plenty region and to furthering their relationship with the University of Waikato.
"The decision has been made, so now is the beginning of our opportunity to create the best institution for our region," Mr Turner said.
Mr Turner said they wanted to deliver tertiary education more effectively across the region, with a wider range of programmes and better access for all students.
"Both Bay of Plenty Polytechnic and Waiariki Institute of Technology are strong in their own right - by bringing them together we will have the resources to do even better for our region," he said.
Mr Nahkies confirmed it would be business as usual for staff and students, and emphasised the importance of continuing to work closely with Maori.
"Our first task is to create a smooth process to transition our staff and students to the new institution," Mr Nahkies said.
"All students will be able to complete their studies with the same expectations they had at the time of enrolment.
"Staff contracts will shift over to the new institution and students may not even notice the change at all."
A new council would be announced in February and, once appointed, would establish a constitution, appoint additional members and appoint a chief executive.