Business North September 2020

STRONG POSITION TO ‘BOUNCE BACK’ Economists at Wellington-based Infometrics have indicated the Waip ā district is in a stronger position than many others to bounce back from COVID-19. In a report commissioned by the Council, Infometrics said “although the economic effects of COVID-19 will reverberate around the economy for years, our estimates point towards Waip ā District weathering the economic storm better than many areas. Economic outcomes are likely to remain soft for the next few years, but after this, Waip ā is positioned well to accelerate local activity levels. “ Waipa was less exposed to the negative economic impacts of COVID-19 because of the district’s strong primary sector and its limited exposure to international tourism, Infometrics said. Consumer confidence has “bounced back” after a steep fall during lockdown. The global pandemic will affect residential and non- residential building activity, but activity is expected to recover in 2021. Right now, local builders are busy with work in progress, some with committed work out four months. Last year economic growth unlocked further business investment, as firms moved into the area, Mayor Mylchreest said. The value of commercial and industrial building consents granted in the 12 months to December 2019 was $127 million, more than double the 10-year average. “This is currently running at $70 million to date and may soften post-Covid, but we still expect Waipa to be a location of choice.” “Waip ā ’s primary sector is also performing well, with meat and dairy prices holding. The COVID-19 outbreak may reduce export revenue earnings in the short-term for the primary sector, but the world still sees New Zealand producing product with high food safety standards. So we see a good long-term recovery in our district and investors look to be sharing that view.” Waipa District Council’s commitment to investing in growth infrastructure shows strong confidence in the economies of Cambridge and Te Awamutu. The Waip ā District has been growing faster than much of New Zealand for the last few years, recording the third-highest economic growth across New Zealand over the 12 months to December 2019. The attractive town of Cambridge, just an hour and a half south of Auckland, is the highest growth area in the district for both industrial and residential development. Plans are moving ahead to open up three residential growth cells to the west of the town and two industrial zones to the north (see growth cells C1, C2 and C3 on map). When complete, the new areas will accommodate 2,500 houses, a new 1000- pupil primary school and a range of commercial areas including a large supermarket. Five growth zones are also planned in Te Awamutu. The increase to capacity and the upgrading of water and wastewater infrastructure, plus new stormwater infrastructure and roads, are key to unlocking new growth areas in Cambridge east. Waip ā Mayor Jim Mylchreest said moving on tenders for the water and wastewater infrastructure was a sign Cambridge was back on the move, post-Covid-19. “All up, the combined works, including a major new intersection, will cost around $50 million. New infrastructure works in C2 near the Avantidrome include building connector roads and extending stormwater swales which are needed for the building of the new primary school. Subdivision plans are also well advanced, and it looks like new housing will be going in from 2022. So there is a certainly a lot of economic activity happening and frankly, that’s what we need right now.” Mylchreest said Council was working collaboratively with land developers around timing of the works and that some developers were already well advanced in terms of “getting work boots on the ground”. The infrastructure work would be welcomed by the wider region because it will provide job opportunities and security and would help rebuild confidence in the local economy. “Cambridge is the highest growth area in our district and it’s always good to see physical work on the ground actually start. That’s what makes it real for people.” OUTSTANDING LIFESTYLE Waipa already boasts a highly-skilled, professional workforce who happily in attractive towns and rural villages. Residents enjoy close proximity to Hamilton and Auckland and reap the benefits of a district rich with a stunning natural environment and world-class amenities. High-technology businesses, entrepreneurs, professionals and farmers, enjoy fast and easy access to two seaports plus the nearby Hamilton Airport and a rail network. Known throughout New Zealand as ‘the Home of Champions’, Waipa also supports a unique high- performance sport environment where half of New Zealand’s carded athletes train and compete. High-performance athletes enjoy a performance cluster environment, which is already home to Rowing New Zealand, Cycling New Zealand, Canoe Racing New Zealand and part of Triathlon New Zealand. The district offers huge investment opportunities in Cambridge, Te Awamutu and at Hamilton Airport. Many technology businesses have already established in, or relocated to, Waipa because of the available workforce plus lifestyle and schooling opportunities. By 2050, an additional 27,000 people are forecast to call Waipa home. They will be welcomed by a Council supportive of new business and new investment, as detailed in www.investwaipa.co.nz ECONOMIC CONFIDENCE DRIVES CAPITAL INVESTMENT Business Development Manager Steve Tritt at Hidden Lake Hotel in Cambridge New roundabout at the Avantidrome Cambridge Growth Cells