Our local economy in good shape
Despite challenges, it’s still performing well
Speaking before Minister of Finance Grant Robertson at last week’s Electra Business Breakfast was an opportunity to reflect on the current state of our local economy. Despite the challenges we’re facing, our economy continues to perform well.
The latest Infometrics quarterly economic report showed the Kā piti economy grew 2.7 per cent in the year to March, above Wellington but slightly below the rest of the country.
Across New Zealand’s more than 60 districts, Kā piti Coast’s economy showed the second greatest growth since pre-Covid levels, growing by almost 14 per cent from December 2019 to March 2023. We’re not immune to change though, especially as the housing market continues to cool and with higher interest rates yet to fully hit households.
At a recent Kā piti presentation Brad Olsen gave an update on our local economy. Infometrics suggest while a recession might have been avoided, the coming months we could see a slowing down, which brings some other stresses.
We have a great opportunity to continue to grow our tourism sector, which is relatively undeveloped when compared with some of our neighbours, and an important pillar is our food and beverage sector.
Congratulations to the eight local producers who will be attending the Fine Foods Trade Show in Auckland later this month as a Kā piti collective. Flying the flag for Kā piti will be Imagination Gin, The Bond Store, Barlovska Craft Liqueurs, Pure Breads, Funk with Food, Glam Jams, Sone’s Sauce and The Roastery.
I’d also like to congratulate the artists who exhibited at the New Zealand Art Show over the weekend. I attended the opening event, and it was incredible to see the quality and diversity of art on offer.
An artistic experience of a different kind was a visit to the Kā piti Art Studio. This group with diverse needs meets twice weekly in Paraparaumu and Ō taki to create art together.
Alongside organisations like Te Ara Korowai and the Shed Project, the Kā piti Art Studio exemplifies how art can be an important tool to deliver health and social wellbeing benefits as well as artistic and economic outcomes. I look forward to looking at all of this as we continue to progress our Creativity and Culture Strategy.