Economic Growth and Revitalization
Renowned for its stunning landscapes and vibrant communities, the Bay of Plenty is emerging as a prime location for business growth and investment in New Zealand. This region, notably Tauranga, is leading in significant economic growth.
Tauranga has consistently surpassed the national GDP average since 2013, earning the title of New Zealand's fastest-growing economy. The city's knowledge-intensive workforce is expanding rapidly, driven by strong capital networks and significant investments in tertiary education and research infrastructure. This growth is mirrored in the revitalization of the city centre, with over $1 billion invested in new office and living spaces, transforming Tauranga into a bustling urban hub.
Horticulture and the Port of Tauranga: Economic Powerhouses
The Bay of Plenty's economy thrives on its robust horticulture industry and the strategic operations of the Port of Tauranga. The region is a leader in horticultural exports, particularly kiwifruit and avocados, thanks to its fertile land and favourable climate. This sector supports local farmers and stimulates related industries such as packaging, logistics, and agritech.
Complementing this is the Port of Tauranga, New Zealand's largest and most efficient port. It serves as a crucial gateway for imports and exports, facilitating seamless movement of goods. With deep-water shipping capabilities, extensive warehousing, and a strong logistics infrastructure, the port is a vital asset for businesses. The synergy between horticulture and the port creates a dynamic economic environment that attracts businesses eager to capitalize on these strengths.
Strategic Location: The Golden Triangle Advantage
The Bay of Plenty's strategic location within the golden triangle of Tauranga, Waikato, and Auckland enhances its appeal to businesses. This geographical advantage provides easy access to three of New Zealand's key economic hubs. Tauranga offers the port and a growing urban centre with numerous business opportunities. Waikato, known for its strong agricultural base and innovative research institutions, adds to the region's economic diversity. Meanwhile, Auckland is New Zealand's largest city, providing access to a vast market, international connections, and a diverse talent pool.
Situated within this triangle, businesses in the Bay of Plenty benefit from proximity to major markets, access to a skilled workforce, and connectivity to global trade routes. This strategic positioning reduces transportation costs and enhances logistical efficiency, making it an attractive proposition for businesses seeking to expand their reach.
Population Growth: A Positive Indicator
The Bay of Plenty is experiencing steady population growth, a positive sign for businesses. A growing population means a larger customer base, increased demand for goods and services, and a more diverse talent pool. This demographic trend is driven by the region's high quality of life, scenic beauty, and economic opportunities, attracting people across New Zealand and beyond.
For businesses, population growth translates to a continually expanding market and potential for sustained revenue growth. Moreover, a larger population supports the development of vibrant communities, enhancing the overall business environment. The influx of new residents brings fresh ideas, diverse perspectives, and a dynamic workforce, further stimulating innovation and economic activity.
Infrastructure Investment: Building for the Future
Substantial infrastructure improvements are underway in the Bay of Plenty. With improvements planned to the region's roading network, enhanced connectivity, reduced travel times, and increased safety will benefit both businesses and residents.
Upgrades to major highways and the development of new roads facilitate smoother and faster transportation of goods and services. Improved infrastructure supports existing businesses and attracts new investments by demonstrating the region's commitment to growth and development. Businesses can operate more efficiently, with reduced logistical bottlenecks and better access to markets and suppliers.
Significant R&D growth across horticulture, marine, and logistics industries, along with government investment into WNT Ventures and PlantTech, and the country's largest Angel investor group, bolsters the region's innovative capacity. Grassroots movements such as the Groundswell Festival of Innovation highlight the collaborative spirit in the Bay of Plenty.
The Bay of Plenty offers a compelling proposition for businesses looking to establish or expand their presence. With its thriving economy, strategic location, growing population, and robust infrastructure, the region stands out as a hotspot for business growth and investment.
Get in touch
If this sounds like the perfect opportunity for you, make the most of what the Bay of Plenty has to offer. For more information on investing in Bay of Plenty or relocating your business and family, get in touch with Linda Harley (022 354 9189).