Malcolm Short says the devil is in the detail but the $100 million fund is long overdue. Photo / File
Malcolm Short says the devil is in the detail but the $100 million fund is long overdue. Photo / File
Rotorua landowners are excited for the potential economic boost stirred by additional funding of $100 million that is set to help unlock the economic potential of whenua Māori and build prosperity in the region.
The Government announced on Sunday the Provincial Growth Fund would invest up to $100m, which constitutes 10 per cent of the fund's $1 billion-a-year allocation.
Ngāti Whakaue Tribal Lands general manager Ray Morrison said the news was obviously exciting because, like many other landowners, the group had problems getting finance from banks.
Ray Morrison can see potential benefit heading our way after Government announce funding for Māori development. Photo / File
"Is this a good avenue for us? You're damn right it is. There has been all this rhetoric from Pākehā saying we are privileged and they will have their view and we cannot change that.
"But we're not worried about all the politics, we are just looking at what is in front of us and we see that as opening up potential pathways."
Morrison said the potential benefit was widespread when analysed on a supply-chain basis.
"If you look at any development ... the best benefit is direct employment then the second benefit could come from the establishment from that and the ongoing opportunities."
Malcolm Short says the devil is in the detail but the $100 million fund is long overdue. Photo / File
Pukeroa Oruawhata Trust chairman Malcolm Short said there were still many questions and considered it could be too early to make predictions.
"Until you see the detail, that is where the devil is, but first off, for Māori land development it certainly needed a boost like that otherwise these projects don't get off the ground."
Short said the funding boost was long overdue because of the non-availability of finance for Māori freehold land.
The council's economic development portfolio lead and deputy mayor Dave Donaldson said the funding had the potential to cause significant benefit to the Rotorua district.
"There is a large amount of land owned by Māori entities, some of it in quite stunning locations that is largely undeveloped.
"If that provides an opportunity to develop and become productive that is a great thing for Rotorua."
He said from a council point of view it could place a demand for infrastructure which then became rateable which could provide income to council which would benefit the whole district.
