Te Waka may get more funding
Waitomo District Council supports a move by the Waikato Regional Council to increase funding for the currently leaderless Waikato economic development agency Te Waka to $2.25 million over three years.
Former chief executive Michael Bassett-Foss finished with Te Waka in September after two years, and director Kim Hill stepped down from the board in October.
Appointing a new chief executive and director are on the to-do list, deputy chair of the Waikato Regional Economic Development Agency, Kiri Goulter said in the six monthly Te Waka report delivered to the Waitomo District Council.
The regional council in its Long-Term Plan consultation document proposes to increase funding for Te Waka from $300,000 to $750,000 each year.
The regional council’s rationalisation is because the Waikato is receiving less central government funding than other regions, more support for Te Waka is required to help it achieve its goals quicker.
The consultation document states a belief that an increased funding injection will help attract other funders and, with more money, more will be achieved for Waikato communities.
Until now the regional council’s annual $300,000 funding for Te Waka came from the general rate.
The proposed $750,000 for three years will come from investment fund returns, with a reduction in the funding available for the Regional Development Fund.
Waitomo District Council supports the increase, but wants ‘‘clear tangible outcomes be outlined as a result of this investment’’.
The council also wants Waikato Regional Council to revise the funding model for Te Waka. The district council is concerned that the current model, if retained, would mean ratepayers were potentially paying twice to support the same agency.
Goluter said in her report to the district council that Te Waka had been transformed by Covid-19, and it was continuing to develop its approach to economic development.
‘‘For the first couple of years there were mixed views in terms of understanding and what our role was.
‘‘Lots of stakeholders in the community had varying understanding of economic development and expectations,’’ she said.
The national response to Covid-19 provided Te Waka with significant additional resources to support the Waikato business community in a way it had not previously been able to.
‘‘The demand for our services put our business growth team on steroids and into overdrive until December 2020,’’ Goulter said.
Te Waka distributed more than $8m of support enabling many small and medium Waikato businesses to not just keep their heads above water, but find new opportunities, build their capability, resilience, and confidence, she said.
In August, the board committed to a refreshed strategy, with the immediate intention being to improve stakeholder engagement and create connections with local and central government and relationships with key sectors and businesses.
It also committed to focusing on creating impact in sector development,
‘‘It’s important to note that while we’ve reset our organisation’s focus on building capacity through collective effort, we’ve facilitated key industries to do the same’’
Deputy chair of the Waikato Regional Economic Development Agency, Kiri Goulter
Ma¯ ori economic development, intelligence, and insights.
‘‘It’s important to note that while we’ve reset our organisation’s focus on building capacity through collective effort, we’ve facilitated key industries to do the same,’’ Goulter said.
Te Waka was bringing together key influencers and leaders across logistics and distribution, construction, education, and IT/innovation, and identifying opportunities and shared barriers to growth.
Industry action plans were expected to be rolled out through 2021.
Te Waka also sought to understand and support Ma¯ ori economic development aspirations and was progressing social procurement activities and strengthening relationships and partnerships with iwi and hapu¯ .
Logistics and distribution contributed $607m to the regional economy in 2019 due to the Waikato’s central location, proximity to the ports of Tauranga and Auckland, central roading and rail networks, Ruakura Inland Port, Firth of Thames and Tokoroa Distribution Hub.
Construction contributed $1.7m in 2019, and was recognised as a fast-growing sector for the region due to an increasing population driving residential building, the Waikato Expressway project and central and local government infrastructure investments.
International education contributed $280m in student tuition fees and tourism to the regional economy in 2018.