A historic agreement cementing in place the construction of a $40 million university campus for Tauranga has been hailed as the start of a new journey of economic development for the city.
John Cronin, who helped drive the project during his four terms as chairman of the Bay of Plenty Regional Council, said the downtown campus would define Tauranga in the same way as the development of the port.
"It is putting Tauranga and the Bay of Plenty on a new journey of economic development," he said.
Mr Cronin was celebrating the signing of the heads of agreement by members of the Bay of Plenty Tertiary Partnership, who have forged a unique agreement to reduce the drain of young people out of the Western Bay to attend university.
He said afterwards that the campus would never have happened without contributions from TECT, the Tauranga City Council and the regional council. TECT and the regional council have pledged $15 million each to construction costs, while the city has supplied the land in Durham St.