Hon Jim Anderton

Minister for Economic, Industry and Regional Development
Minister of Forestry
Associate Minister of Health

Progressive Leader

19 July 2005 Media release

Assistance for aerospace manufacturing

Pacific Aerospace Corporation (PAC) has been granted $480,000 from the Growth Services Fund to develop and enhance its manufacturing capability, Minister for Economic Development, Jim Anderton said today.

The grant is for the following activities:

- International certification in targeted markets,
- Addition of further capabilities to the Standard 750XL,
- Expansion of manufacturing capacity, and
- Development of human capital.

"Pacific Aerospace plays an integral role in New Zealand's aircraft manufacturing sector. This year it will celebrate the manufacture of its 600th aircraft and contribute to lifting our level of high value exports.

"Companies like Pacific Aerospace can make a huge contribution to New Zealand by developing high skill, high tech industries. These are the sorts of businesses, which will help New Zealand compete in the world market and grow our economy for the future.

"New Zealand needs more high growth, high tech industries to sustain, and build on, our economic growth rate, which is why the Growth Services Fund grant has been awarded to PAC. High value exports play a key role in making us less susceptible to the vagaries of the global market," Jim Anderton said.

The Growth Services Fund is accessible only for companies which have been identified as having clear and significant growth potential, and for whom a development plan has been compiled by Client Services staff.

ENDS

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