Wellington regional economic plan identifies ‘pockets of growth’

The Regional Economic Development Plan (REDP) is a programme of work that sits within the Wellington Regional Leadership Committee work programme. Originally published in 2022, the REDP recently underwent a refresh to ensure that it’s initiatives remain relevant to our region’s economy, so that can make a real difference. 

MEDIA RELEASE AUGUST 5 2024

“Work to bolster the number of jobs and economic opportunities in the Wellington region is starting to pay off”, says WellingtonNZ Business and Innovation general manager Stu Taylor.

Analysis of the first full year of the Wellington Regional Economic Development Plan shows job growth in some sectors, new spending and successful initiatives to identify and develop opportunities.

The Wellington Regional Economic Development Plan was launched in 2022 by WellingtonNZ, the region’s economic development agency. It guides the long-term direction of the regional economy and includes a set of initiatives focusing on four sectors: screen and gaming, science and technology, food and fibre and tourism.

The plan identifies priorities for growth agreed by the Wellington Regional Leadership Committee, made up of mayors and iwi leaders from across our region, and details what needs to happen to ensure progress is made.

“The region has been hit hard this year by the state of the global economy and job cutbacks. However, what we can see is that the initiatives in the REDP are producing pockets of growth and innovation that are creating jobs for our growing population.”

A snapshot of stand-out examples include:

• At least 300 screen sector jobs created during the filming and production of the films Wolfman and Red Rocks) and the television series Time Bandits
• 16 internships provided through the Summer of Engineering programme last summer
• Opening of a tech hub at Te Herenga Waka Victoria University with nine inaugural businesses to foster collaboration and growth

In addition, Mr Taylor says there are a number of initiatives under way to stimulate the economy year on year.

For instance, the plan recognises the science sector has an aging workforce and high levels of skills shortages. The opportunity identified is to increase engagement in STEM subjects at school, show students the value of the skills developed and how they transfer to the workplace.

One programme doing this is House of Science, which develops science lesson resource kits with the aim of every New Zealand child becoming scientifically literate. House of Science kits are now being delivered in almost half Wellington schools and support is growing rapidly in Kapiti and Horowhenua.

Growing the visitor economy is also a key focus of the Regional Economic Development Plan. Achievements in this sector have included a programme being delivered by Milky-Way.Kiwi for Wairarapa businesses to leverage the region’s Dark Sky Reserve status by looking at adding a dark sky element to their core offering.

Work is also ongoing to capitalise on tourism opportunities presented by Wellington hosting TRENZ for the first time. TRENZ – the country’s most important tourism trade event – attracted  more than 1,200 New Zealand and international delegates and  was held at Tākina, Wellington’s new conference and convention facility.

Efforts to grow the food and fibre sector have largely centred on the Kapiti Coast and Horowhenua. Together with Wairarapa, these areas are responsible for more than 90 per cent of food and fibre production in the Wellington region. The Kapiti-Horowhenua food and beverage cluster has grown to 125 members in the past year. It is enabling members to capture new business opportunities. One of these is a food production hub that would see several producers in one place sharing a commercial kitchen.

Plans for the tech sector include a goal of creating 30,000 jobs in the region by 2035 with Wellington seen as a leader in areas such as climate technology where investment capitalists are focused.

“We know the region has had a few tough months, however this plan provides a blueprint for sustainable growth across the wider region in the coming decades.

“The people living here are incredibly resourceful, creative and resilient. WellingtonNZ has developed this plan in partnership with many people across the region to support those initiatives that will provide a more prosperous future for everyone,” Mr Taylor says.