Taranaki’s councils have put forward a proposal under the Government’s City and Regional Deals initiative, highlighting the benefits of closer collaboration to accelerate key actions in Tapuae Roa – Taranaki’s Economic Development Strategy. The proposal includes recognising Taranaki as a strategic energy zone for New Zealand.

New Plymouth, Stratford, and South Taranaki District Councils, alongside the Taranaki Regional Council, are seeking a strengthened partnership with central government to harness the region’s strengths, unlock economic growth and investment, and enable region-wide planning for housing, infrastructure, industry, energy, and sustainable food and agriculture. The proposal builds on the region’s well-established energy sector, existing infrastructure, and skilled workforce.

With its abundant natural energy resources, Taranaki has significant potential to drive both regional and national economic growth. Large-scale renewable energy development could attract investment, create new jobs, and enhance skill development opportunities. Recognising the region’s strategic economic role would also support long-term, integrated planning to ensure future infrastructure and workforce needs are met.

“The initial proposal builds on the Tapuae Roa regional economic strategy, aiming to work closely with central government on initiatives that will turbo-charge our regional economy for the benefit of the entire country,” said Taranaki Mayoral Forum Chair and Stratford District Mayor, Neil Volzke.

Key opportunities outlined in the proposal include advancing the Applied Innovation Centre Taranaki, with a focus on green gas, biogas, and biomethane research and production. The centre would attract scientific and engineering talent while fostering emerging biotechnology companies.

The proposal also highlights the success of Branching Out, a regional diversification initiative led by Te Puna Umanga Venture Taranaki. Branching Out has made significant progress in developing high-value products such as medicinal plants, hemp fibre for construction, and sustainable vegetable and grain crops. A long-term funding partnership with central government could accelerate investment, unlock underutilised land, and support regulatory reviews to remove barriers to hemp production and export.

The Government will assess city and regional proposals against the City and Regional Deals Strategic Framework, with the first regional deal expected to be finalised in late 2025.

Fast Facts

• Taranaki’s economy (gross domestic product) was valued at about $11.3 billion last year (Infometrics).
• With about 130,000 people, Taranaki had a per capita GDP of $80,000, compared with $75,300 nationally (Stats NZ).
• Taranaki has about 16,500 businesses and 64,000 people in work (Infometrics).
• The average household income is almost $114,000 (Infometrics).
• Dairy farming and processing, and oil and gas together make up 34% of Taranaki’s economy (Stats NZ).

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