Wellington Regional Strategy Summit

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• Wellington Regional Strategy Summit
• 14 November 2008

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Introduction

• What influences business growth in a region?
• Value of a region-wide, broad-based strategy
• Keeping a strategy relevant
• What matters for central government?

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What influences business growth in a region?

• Many factors that influence business growth over
  which a firm has minimal control
• Businesses grow within the context of these
  factors
• Factors include infrastructure, education system,
  capital base, innovation systems, natural
  endowments
• Regional Business Environment Framework -
  http//www.med.govt.nz/business-environment/
• A regional economic development strategy can
  coordinate and target activity that improve the
  business environment

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Value of a region-wide, broad-based strategy

• Policy changes in 2007 involved a reduction from
  26 to 14 larger regions Wellington was already
  operating at this level as a result of its
  regional strategy
• Larger regions require strong region-wide
  collaboration and regional governance that can
  take a non parochial view
• Sub-regional and local focused activity still
  valid and important
• Wide range of players that influence economic
  development

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Keeping a strategy relevant

• An action oriented strategy with a current action
  plan
• Ongoing monitoring the regions economic
  performance and adjusting the strategy/actions
  accordingly
• Regular communication with regional stakeholders

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What matters for central government?

• Regions working together
• Coordinated regional planning e.g. Long Term
  Council Community Plans, Land Transport
  Strategies, economic development strategies
• Regional economic development strategies that
  identify, complement and align with national
  priorities

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Questions ?