The Government will invest a further $24 million into ten regional projects.
Included in the projects is a $3 million Government grant towards the $20 million Maraetai Rd Intermodal Business Park development in Tokoroa.
The Maraetai Rd Intermodal Business Park, off SH1, sits at the southern edge of the country’s golden triangle economic zone.
It is being developed by the South Waikato District Council with support from the South Waikato Investment Fund Trust and the Government to attract new businesses, jobs, and prosperity to South Waikato.
SWDC Mayor Gary Petley said the Maraetai Road development will enable significant expansion of container rail freight volumes through the existing Tokoroa Road/Rail Terminal which provides intermodal (road and rail) connectivity to Ports of Tauranga, Ports of Auckland and into international markets.
The park will provide 13 fully serviced lots for sale, all with freight access through the adjoining terminal, ranging in size from 1,696m2 to two hectares with the flexibility to combine lots to meet investor/occupier requirements.
Development of the business park will start this year with staged development through to the end of 2024. It is expected to generate between 150 to 200 new jobs in the district.
Regional Development Minister Kiri Allan said the new funding builds on the Government’s investment to boost regional economic resilience and set up communities to thrive.
“Through a mix of grants and loans, we’re investing in projects that will enable our regional businesses to continue to grow. From innovative crop farming to training projects, orchard development to sporting facility revamps, these investments will help accelerate business developments and advance work and training opportunities, adding to the vibrancy and appeal of our regions,” Allan said.
The projects are funded through the Regional Strategic Partnership Fund, which aims to support regional economies to become more productive, resilient, inclusive and sustainable by delivering local approaches tailored to regions’ particular needs and advantages.
Since coming into Government $3.2 billion has been paid out from Kānoa’s eight funds to support our region’s economies and 1148 projects have been completed.
