Rotorua could benefit by 120 jobs and $50m

FILE

Rotorua's economy could benefit by up to $50 million and 120 new jobs from Grow Rotorua projects from the past year.

Released this week, Grow Rotorua's annual report identified potential future economic impacts for the district, a five-year future vision, and an overview of the emerging Maori economy.

It also identified significant achievements for Grow Rotorua over the past 12 months, including providing input to a lakefront spa complex, the attraction of $700,000 of funding into the district, and representing Rotorua economic development opportunities on the Bay of Plenty Regional Growth Study.

The report details investment opportunities - particularly in tourism, agribusiness, wood processing and education - and how the organisation is contributing to Rotorua Lakes Council's Rotorua 2030 vision, goals and priorities.

A five-year future vision identified a world-class golf course for the area, a milk bottling plant, four new international-standard spa and hot springs facilities, a flight training school and a new wood fibre residues plant, involving potential investment of $275 million in new projects and the creation of 600 quality new jobs.

Read a copy of the Grow Rotorua annual report here

Grow Rotorua chairman, John Green, said investment and confidence in Rotorua is continuing to grow, evident in the district recording New Zealand's highest gross domestic product (GDP) growth in the June 2015 quarter.

"We're starting to see significant investment across a number of sectors following many years of relatively flat growth in Rotorua. The perception of Rotorua as both a destination and investment opportunity has turned quite positive," he said.

Grow Rotorua chief executive Francis Pauwels, right, with deputy mayor Dave Donaldson.

"Rising interest in economic growth opportunities by iwi, and local and external investors, bodes well for exciting new investments to come to fruition - particularly in the agribusiness and land-use areas.

"The real task for our Grow Rotorua board is to look into the future and realise the potential that Rotorua has on offer," Mr Green said.

Rotorua Lakes Council deputy mayor Dave Donaldson said the format of this year's Grow Rotorua annual report provided an opportunity to showcase many Rotorua investment opportunities.

"To build sustainable economic growth and grow more jobs for our community we have to continue to attract new investment capital. I've recently had talks with a number of potential new investors interested in projects here."

Grow Rotorua chief executive Francis Pauwels said Rotorua was a unique region on a world scale.

"There's been renewed investment confidence in the district, particularly over the past year, and this is underpinned by a local economy with reasonable diversity and opportunity."

"One recurring theme is overseas investors looking primarily at the values of potential joint-venture partners. This is where real synergies and opportunities exist for Te Arawa as there are often common values around multi-generational family and whanau, job creation, longer term investment horizons and environmental enhancement," Mr Pauwels said.