BERL recently completed a report for Taranaki Regional Council on Port Taranaki’s value to the Taranaki region. Taranaki Daily News ran an article based on the report, which can be found here.
The report identified that:
- Effective sea ports are crucial for the growth of an export focused New Zealand economy as over 99 percent of New Zealand exports and imports by volume go through ports. Port Taranaki is the third largest export port by volume behind Tauranga and Lyttleton, and is the sixth largest exporter by value, behind Tauranga, Auckland, Lyttleton, Napier and Dunedin.
- Port Taranaki plays an important role in the Taranaki region, particularly as the region is relatively isolated and industry is largely export focused. Port Taranaki supports exporters and importers, reducing cost and improving access and options. It also acts as an attractor of export focused, port dependant or transport related businesses.
- In relation to quantifiable economic impacts (total impact):
- Port operation contributes $25.5 million to regional GDP and employs 138 FTEs.
- Port dependent activity contributes $465 million to regional GDP and employs 1,270 FTEs.
- Industries that utilise the Port collectively contribute $2.5 billion to regional GDP and employ 11,700 FTEs.
- Port Taranaki also plays an important role in place-shaping, particularly as the region has developed around the port. The urban environment and transport links are tied to Port Taranaki, meaning it has a key role in shaping and defining the urban form of New Plymouth.
- Being owned by Taranaki Regional Council, the Port has a strong corporate citizenship role and provides an annual dividend to the Council, which supports lower rates.
- Looking ahead, the Port will continue to play a valuable role in generating economic activity and in supporting and enabling industry growth, particularly around the oil and gas sector and primary industries.
- The port can also play an increasingly important role in encouraging and enabling regional economic development through corporate citizenship and place-shaping initiatives.
A full copy of the report can be downloaded from the Taranaki Regional Council website here.