Announced in February, the Provincial Growth Fund (PGF) has been allocated $1 billion across both operating and capital expenditure. This includes funding across the One Billion Trees programme and investment-ready initiatives. It is early days yet to predict outcomes for regional business and economic growth. The PGF has so far committed $130.2 million to the regions for projects across various sectors, including forestry, tourism, energy and infrastructure such as KiwiRail.
The broad aim is to lift regional productivity potential. All provinces are eligible for funding. However, some areas have been identified for early investment. If you would like to explore this further please contact us.
Read more on the individual areas of the budget: