Northland Inc welcomes investment into kingfish project
Northland Inc General Manager for Investment and Infrastructure Vaughan Cooper has welcomed the Provincial Growth Fund announcement that it will invest $6 million into the commercial farming of Kingfish in Northland.
“Finfish was identified as a key opportunity when we were developing the Northland Aquaculture Development Strategy, and it is fantastic to see that strategic thinking coming to fruition today with this announcement,” said Cooper.
The Provincial Growth Fund (PGF) investment, in combination with the contributions being made from NIWA and the Northland Regional Council, enables the project to take the next step towards the commercialisation of, and the development of, a new finfish industry in both Northland and New Zealand.
It will aid in diversifying the current aquaculture market and create employment opportunities for the region. If the project is successful in proving that kingfish can be viably produced at 600 tonnes per annum, then further investment will be sought to develop and grow the opportunity.
The project, which sits within the Land and Water workstream of the Tai Tokerau Northland Economic Action Plan (TTNEAP), builds upon years of previous research and work that has been completed and supported by multiple stakeholders within Northland and other central government agencies.
Northland Inc has been an advocate of the project since its inception, providing support through Northland Regional Council’s Investment and Growth Reserve into early stage pieces of work, such as a market demand and further investment advice that have helped to shape the project.
The project is a prime example of how economic development projects within Northland that have been carefully developed over time have been given support across their final hurdles by the PGF and Regional Council.
“It is quite a cliché but very true in this context – good things take time. It has been eight years, in fact, since the launch of the aquaculture strategy,” added Cooper. “Now it is time to turn all that hard work into something very tasty.”
Launched in 2016 and refreshed in 2019, the TTNEAP – which is being facilitated and supported by Northland Inc, the region’s economic development agency – brings into focus a group of projects that together are contributing to the transformation of Northland’s economy.
Progress is being made through identifying opportunities and inspiring innovation to encourage further investment, boosting sustainable jobs and productivity, building capability and empowering and engaging communities to reach their full potential."