Opportunities in the Eastern Bay
Since 2019 there has been considerable investment in the aquaculture, horticulture, tourism, retail, logistics and manufacturing sectors. Inward investment is both public, funded through the government’s “Provincial Growth Fund,” and private.
There are numerous opportunities within Eastern Bay of Plenty for new business and investment. Several of the most significant opportunities are outlined below:
There are many machinery manufacturing, engineering and repair businesses in the area, which support the local primary sector. Boatbuilding is also a growing industry, with several companies clustering around a marine precinct.
There are opportunities for manufacturing companies to relocate to the area for the skilled workforce, high-quality transport and logistics infrastructure and low cost of doing business.
Timber Processing and Fibre
Kawerau was established specifically for the timber industry, and today there are still numerous opportunities in the area for timber processing. Currently, companies are producing processed timber for construction, paper and tissues. There are also identified opportunities in cross-laminated timber, furniture manufacturing and kit-set housing.
The Eastern Bay of Plenty has abundant horticultural land and water. The main crop in the area is kiwifruit. However, there are also opportunities in other crops or their processing. Some of the more niche crops found in the Eastern Bay of Plenty include truffles and ginseng.
Aquaculture is a rapidly growing sector thanks to Eastern Seafarms and their 3800ha marine farm. The sea farm currently produces mussels, with the vision of growing fin-fish. There are many opportunities for businesses involved in the aquaculture sector, including processing mussel products or partnering with Eastern Seafarms to farm other species.
As with most towns in New Zealand, Opotiki requires more affordable housing. There are opportunities for investment in housing, medium-density housing and town centre redevelopment.
The region has world-class natural scenery and rich local culture. In 2020 the economic value of tourism to the area was $70 million. There are numerous opportunities for investment in the tourism sector, including accommodation, hospitality and activities businesses.
The Eastern Bay of Plenty has a high percentage of retirees compared with the rest of New Zealand. Many New Zealanders choose to retire in the area due to its climate, natural environment, good provision of services and affordable cost of living. The Eastern Bay of Plenty’s Age Care services are struggling to keep up with demand, meaning there are good opportunities for businesses to invest in the Aged Care sector.