"That $152 million doesn't include screen deals, which has seen a further $100 million dollars invested in Auckland," says O'Riley. "In addition, we had a target to create 330 new jobs through the arrival and expansion of multi-nationals in Auckland. So far that figure is at 194 and we are confident it will continue to rise."
The six multi-nationals represented a variety of industries:
Financial behemoth China Construction Bank, the 38th largest company on the Fortune 500, has established a base of operations for their banking business in Auckland.
United States investor, Kayne Anderson Capital Advisors, is establishing a resort and golf course at Te Arai, north of Auckland, after years of legal battles and currently exploring complementary investment opportunities in the visitor space.
Irish IT Services firm Westbourne set up their call centre for the Asia-Pacific region, citing the "fast-growing, young, diverse and highly educated population" as a driving factor behind the decision.
Chinese firm Hope King, which manufactures fibre optic components, has set up a factory in Avondale, with plans to invest a further $50 million in facilities and research and development (R&D). Matchbyte, which delivers innovative IT services and solutions to the travel industry, has opened an office in Auckland, its fifth global location. Heath Wallace, a global digital marketing company, has also opened an office.
"We're trying to attract companies that operate in our targeted growth sectors and will generate high value jobs here," says O'Riley.
"ICT is our fastest growing sector, so getting companies like that is really encouraging. We know that they are attracted here because of the business climate, but talent also draws them here.
"One of the key areas we need to focus on is continuing to ensure we are able to deliver a talent pipeline for these firms."
"It's really important that we have strong alignment through the education system so that we are teaching our young people the skills and qualifications that are going to be attractive to these firms," says O'Riley.
"We know that there's a globally insatiable demand for talent in sectors like ICT, so Auckland's ability to create a pipeline is a way of guaranteeing our young people high value jobs in the future."
Auckland Investment Office project manager David Caselli explains that foreign investment is essential to the city, not just for the direct capital but the positive flow-through effects.
"New investment will meet New Zealand and Auckland's needs to grow business, create jobs and to build the city. Most recently, the Government's Productivity Commission made reference to increasing building costs," he says.
There are already some significant attractions of the New Zealand market, with the ease of establishing a business here and the lower costs incurred by the technology sector, particularly with labour.
"Auckland's need for large-scale house builders points to the need to attract new investors in the building and construction sector to help solve Auckland's increasing costs of housing."
The Auckland Investment Office is focused on transformational opportunities for Auckland, working with the likes of New Zealand Trade and Enterprise, the major banks and chartered accountancy firms to create a pipeline of interested investors.
With Auckland working towards its long-term goal of becoming the world's most liveable city, the infrastructure investment required to underpin this is estimated between $30 billion and $60 billion over the next 30 years. "There is funding gap of at least $10 billion for major projects needed in Auckland," says Caselli.
"Funding is available within New Zealand -- for example, the New Zealand Super Fund and ACC's investment fund -- but those potential funders need international co-investors to manage the risks of investing in large-scale specialist projects."
"The international investors are experts at delivering large scale projects at speed -- they can implement new building systems, more cost-effective construction practices, and can bring in smart, capable managers to lead these major projects within the context of current Government policies."
O'Riley says investors have shown a positive response to the practical business attraction approach taken by Ateed and the Auckland Investment Office.
"Typically, we haven't had a lot of people asking us for cash incentives. The feedback is that there are already some significant attractions of the New Zealand market, with the ease of establishing a business here and the lower costs incurred by the technology sector, particularly with labour.
"We have focused our effort on working with businesses in terms of identifying locations where they can be based; if consenting is required we work with council; we help to connect them to local companies and tertiary providers. It's part of the engagement programme we map out with the companies in advance."
O'Riley has also overseen the implementation of an aftercare programme, Aroha Auckland, for foreign businesses entering the local market. The programme includes 90 businesses and investors.
"Aroha is all about continuing to account manage these companies - not only do we help them get here, we continue to work with them to continue to maximise their growth potential and investment in Auckland."
"The companies have been grateful for having someone focused and working with them. We have run a pretty rigorous process, meeting with organisations and individual investors and building a profile with what they're trying to do," says O'Riley.
