Strong economic performance in Northland

Economic Development Minister Steven Joyce has welcomed the release of the latest regional gross domestic product (GDP) figures, which show the Northland economy grew 7.8 percent in 2014 - the region’s highest annual rate since 2007.

“Northland’s growth in the last year is strong by anyone’s standards,” Mr Joyce says.  “Northland grew well above the national average, and was one of the top three regions for growth in the North Island.”

The regional GDP figures continue a strong run of economic indicators for Northland, with figures out this week also showing that the region’s tourism sector is having a good season.

“Northland guest nights grew 5.3% in January over January last year, and annual growth in guest nights is running at 8.1% against a New Zealand-wide growth rate of 5.6%.

“When you add that to the 7,500 extra new jobs created in Northland in the last year, it is clear that the region is turning the corner and beginning to grow well,” Mr Joyce says.

“To put Northland’s employment growth into perspective, the entire country grew 80,000 jobs last year, so Northland generated almost 10 percent of that.

“There is always more to be done, and that’s why last month we released the Northland Regional Growth Study, the most comprehensive report written on the Northland economy in many years.

“The focus now is on attracting more investment into Northland from around New Zealand and around the world so that we can continue the strong job growth we are seeing.”

The Government’s Business Growth Agenda is focused on encouraging investment right across New Zealand, Mr Joyce says.

“Sustained economic growth is the only way we can create more jobs and increase incomes.

“It is only when businesses have the confidence to invest that we achieve the sort of job growth that we are now seeing in Northland and across the wider the New Zealand economy.”