Funding allocation

The RSPF invested in projects which enable regional economic and business development, accelerate Māori economic aspirations and support sector transformations, with a focus on firm-level and commercial investments.

The RSPF allocated $153.63 million for seed funding in three main areas:

• enabling regional economic and business development
• accelerating Māori economic aspirations
• supporting sector transformations.

Funding of $40.12 million was approved for emerging priorities.

Enabling regional economic and business development

Funding of $40.478 million was approved for equipment, small-scale infrastructure, community assets and other capital improvements for organisations in places within regional New Zealand that could most benefit from economic support.

The RSPF invested in projects that:

• are in places within regional New Zealand that could most benefit from economic support
• also create benefits for organisations other than the applicant (such as other businesses, trusts, collectives and/or iwi)
• are receiving active support from at least one other government agency (such support might include additional funding, business and capability support and/or worker training)
• have sustainable funding for ongoing costs.

$20 million of this allocation was to support regionally significant firms impacted by Cyclone Gabrielle.

Accelerating Māori economic aspirations

While Māori economic aspirations have been supported through all areas of the RSPF, funding of $61.5 million was approved to help create productive whenua Māori assets and accelerate Māori economic aspirations.

Māori land has unrealised potential for productivity growth and economic benefits for whānau.

Funding has supported developments on undeveloped and underutilised land. This includes new developments on land blocks which may not have been previously developed or may have been previously leased by another party.

Supporting sector transformations

Funding of $51.65 million was invested as loans or equity instruments in businesses and organisations that were identified by our regional partners as being a priority for the region’s economic future.

Approved projects built off existing government regional economic development investment in the region, addressed an identified gap within a value chain, or produced added-value products or services.

These investments were targeted towards sectors where the region has a comparative advantage, provided a catalyst for economic development and contributed to broader government objectives.

Emerging priorities

Funding of up to $40.1 million was approved for projects in response to emerging priorities from across regional New Zealand.

This stream focused on projects with a large regional economic impact that may not have been eligible for the other RSPF funding streams.

You can find more information on What we have funded