Te Waka granted funds to accelerate region’s access to Provincial Growth Fund

Te Waka has been successful in securing Economic Development Agency Capability Funding at $200,000 per year for two years.

Minister of Regional Economic Development Hon Shane Jones announced the Te Waka investment at a function today at the Ahikōmako - Centre of Māori Innovation and Entrepreneurship at Te Wānanga o Aotearoa in Hamilton.
Te Waka CEO Michael Bassett-Foss says Te Waka aims to match the funds dollar-for-dollar to help Waikato organisations access growth funds.

“As the region’s economic development agency, our role is to facilitate economic growth.  Helping Waikato businesses and organisations gain access to the Government’s Provincial Growth Fund is an important part of our remit.
“We’ll use this funding to provide hands-on assistance to support organisations to develop their business cases and applications to the PGF.  This new service will accelerate Waikato applications through the system and give submissions from our region the very best chance of being considered for funding,” says Mr Bassett-Foss.

He says contracted service providers plan to match the $200,000 with $200,000 of in-kind support each year. 
“This level of support gives us nearly half a million in resources over the next two years to put behind getting potential PGF projects investment-ready.”

Other Waikato PGF investments announced by the Hon Shane Jones today included: $449,300 for Smart Waikato’s secondary school employer partnership programme and just over $700,000 for the redevelopment of the Paeroa Historical Maritime Park Marine Development.

The Historical Maritime Park Marine Development includes four elements: construction of a wharf, installation of two floating pontoons, purchase of a vessel to transport passengers and bicycles between landing sites and construction of a 256 metre board walk to connect the pontoons.  Landscaping will also be carried out.

The Hauraki District Council has committed and additional $400,000 to Paeroa project.

PGF investment into Smart Waikato’s Secondary School Employer Partnerships will allow this successful project to expand further.  The programme is aimed at students in years 9 and 10 and connects students, educators and employers with the goal of introducing students to a wide range of careers.

Michael Bassett-Foss says, “To date, Waikato has lagged behind other regions in gaining access to PGF funding, so it’s heartening to see projects with the potential to contribute jobs and economic wealth obtaining Government investment. 
“It’s great to see the wider Waikato region now taking advantage of the opportunities on offer, and the team at Te Waka is looking forward to playing our part in bringing these projects to fruition.”

Te Waka begins its new PGF application investment-ready service immediately.  For more information, contact enquiry@tewaka.nz .