26 | Manawatu Regional Development T T Kim Newth Palmy proactive on seeking investment Te Ahu a Turanga-Manawatū Tararua Highway to Hawke’s Bay is due for completion in 2025 and is poised to be a game changer for Palmerston North, T T to page 28 REGIONAL DEVELOPMENT Manawatū’s bustling centre, Palmerston North, is a place of innovation, growth and creativity. This vibrant regional city offers residents a quality lifestyle backed by a strong local economy with many strands to the bow. Not content to sit on the sidelines, Palmy is actively pursuing both public and private investment as it targets sustained economic momentum. Between September 2018 and September 2023, the city’s economy grew by 18.8%, well ahead of the national growth rate. Estimates released by the Palmerston North City Council put the city’s GDP for the year ended March 2023 at $6.4 billion - up 2.1% on the previous year - with the service sector a key contributor, alongside the city’s government, education and health sectors. Manawatū’s economic resilience also owes much to its primary sector complemented by growth in logistics and transport. Powering ahead on infrastructure With an $8 billion pipeline of infrastructure and investment continuing for the next six to eight years - along with new projects in energy, utilities, logistics and healthcare – the outlook ahead is a positive one. Te Ahu a Turanga-Manawatū Tararua Highway to the Hawke’s Bay is due for completion in 2025 and is poised to be a game changer for Palmerston North, connecting the city to the East Coast and the Port of Napier. The city plans to take full advantage of the opportunities this will bring.
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