Masterton defies economic trends

Masterton is showing the way to the rest of the Wellington region when it comes to economic performance, according to the latest Berl economics report.

A snapshot from the January report reveals Masterton district with 6 per cent Gross Domestic Product growth in 2014 was six times higher than across the entire Wellington region.

Likewise GDP per capita growth at 5.6 per cent was far in advance of the overall regional performance of 0.1 per cent and huge gains were also made in employment growth and labour productivity.

Employment in Masterton grew 4.4 per cent as against the regional figure of 1.7 per cent and productivity rose by 2.5 per cent, a complete reverse of the - 0.7 per cent regional achievement.

Whereas Berl describes the Wellington region's economic performance last year as being "somewhat subdued " the snapshot confirms Masterton has bucked the trend and topped the list of the eight territorial authorities in five of the seven key indicators.

The Masterton result has been described by mayor Lyn Patterson as an "outstanding achievement".

"This report reflects the positive feeling that is coming through from our business community," Mrs Patterson said.

"There is a confidence building throughout our district and the exceptional growth in GDP, together with our employment growth, are contributing to that.

"Our labour productivity growth is also the highest in the Wellington region: in other words we are working smarter."

She said GDP growth was not only six times higher than the regional average but also close to double the national average.

Growth mostly came from primary industries, manufacturing and the business services sector, the Berl report found.

"This is a clear indicator that we are developing into a smart business community and is contributing to the attractiveness of Masterton as a place for people to come to live and work," Mrs Patterson said.

"Our My Masterton campaign, which we are running in partnership with the Wairarapa Times-Age, is starting to achieve some real success in terms of telling the story of our district to the rest of the country."

The Berl researchers' findings proved Masterton was leading the way in the third largest region in New Zealand, behind Auckland and Canterbury.

"That is something the whole of Masterton can be extremely proud of and gives us an excellent platform on which to build for the future," Mrs Patterson said.

Carterton district showed healthy GDP growth, achieving a rise of 3 per cent and GDP per capita growth of 0.7 per cent.

Employment in Carterton rose by 0.9 per cent and labour productivity by 2.3 per cent.

The district headed Masterton in population growth with a rise of 2.2 per cent as against Masterton's 0.4 per cent.

In South Wairarapa Berl's key economic performance indicators do not paint a picture as rosy as the other two districts.

GDP growth fell by 1 per cent and GDP per capita growth dropped by 2.1 per cent.

Employment fell by 3.1 per cent but labour productivity rose 1.5 per cent.

The resident population of South Wairarapa gained 1.1 per cent.