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Bay of Plenty Business News May/June 2017

From mid-2016 Bay of Plenty businesses have a new voice, Bay of Plenty Business News. This new publication reflects the region’s growth and importance as part of the wider central North Island economy.

Bay of Plenty Business News May/June

Bay of plenty MAY/JUNE 2017 VOLUME 2: ISSUE 11 WWW.BOPBUSINESSNEWS.CO.NZ FACEBOOK.COM/BOPBUSINESSNEWS Bay poised for strong employment surge A new Smart Growth-commissioned report paints a positive picture of employment for Tauranga and the Western Bay of Plenty, with job numbers expected to grow almost 50 percent by 2063. By RICHARD RENNIE Conflicting estimates of population growth in Tauranga and the Western Bay of Plenty have been highlighted in a new report commissioned by Smart Growth. As a result, planners need to be alert to the risk of underestimating the demand for goods, services and the infrastructure requirements of the region’s population, the report suggests. But regardless of growth rate expectations, the report paints a strongly positive picture of employment growth, with an estimated increase of almost 50 percent or 39,000 in employment by 2063. The bulk of the growth is estimated to come by 2048, with Tauranga city expected to field the bulk of the jobs, gaining 15,900 in the services sector alone, and an additional 9000 from industrial job growth. Smart Growth implementation manager Bernie Walsh said the demographic challenges facing the region were pulling in two ways. “We have a young Maori population under 15 that is one of the highest proportions in all of the country, which in a way is a good issue to have. We also have growing structural ageing of the over 65-year-olds, and we will need them to work longer to keep up with the job demands.” If one in four of the 65-69- year cohort remains active in the labour force by 2063, this could provide about Smart Growth’s Bernie Walsh: Ageing population needs to be factored into job market. 4190, workers or 10 percent of the 39,000 job increase anticipated. The report identifies the growth corridors to host these gains as lying either in the CBD or Tauriko. The CBD growth is expected to account for 3700 more jobs, taking the total number of employees to 14,000. Highlighting its rapid expansion as a vital business centre, Tauriko is estimated to grow by 4250, with the eastern corridor development in Te Maunga expected to add a further 2500 jobs to the city’s total. The Smart Growth Employment Predictions Report was compiled by Lawrence McIlraith of Market Economics. The report - a final draft of which was presented to Smart Growth in April - is a key input into the Smart Growth strategy. It aims to help integrate community, cultural and jobs growth in a unified pathway to Continued on page 5 MAORI ECONOMIC GROWTH IN BOP The growing scale of the Maori economy is a crucial factor. The share of the Maori contribution to the entire Bay of Plenty economy is estimated at 11 percent of the regional GDP, or $1.1 billion a year, off an asset base of $8.6 billion. The potential of Maori to contribute even more to the Tauranga-Western Bay economy is estimated to be able to make the economy 6.4 percent larger by 2063.

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