Waikato region’s new economic development agency underway

The Waikato region now has a long-awaited economic development agency, designed to lift economic performance that will impact on all people in the region.                                 

The Waikato Regional Economic Development Agency (Waikato REDA) came into existence on 1 July; it’s a limited liability company, owned by the Waikato Regional Economic Development Trust.

The Waikato REDA now also funds and operates the Waikato Story and has also brought under its umbrella the Business Growth Services team, previously under Waikato Innovation Park.

Waikato businessman Dallas Fisher chairs the Waikato REDA establishment board and says the agency aims to become a front door for the region.

He acknowledges all the research and hard work that’s been done in the past few years before Waikato REDA existed.

“We’re proud to be standing on the shoulders of some great people and organisations and showcasing what we have to offer. And we’re ready to take on that challenge of bringing everything together and becoming one of the lead voices for the region.”

Mr Fisher says that includes using the Waikato Story to help promote the benefits of doing business here to domestic and international organisations who are looking to relocate to a savvy and desirable region.

He says the agency will also target investors as well as government funding, such as the Provincial Growth Fund. 

The first order of business is bringing together 250 of the region’s key people at the end of August to determine major initiatives for the agency. After the summit, Waikato REDA will have a list of its top economic development initiatives that will have the greatest impact on the Waikato and its people, and will then work with government and funders to make those happen.

“This is an important time for the Waikato – we need to take a strategic approach to getting us up to that next level and delivering the well-being we know our communities need.”

Mr Fisher says the agency will keep the region updated on its progress and people can choose to sign up for regular updates. Also, a quick 10-question survey is available so the agency can find out more about how people want to engage with Waikato REDA. 

The agency has taken strong direction from Waikato Means Business, the region’s 20-year economic development strategy, created with input from civic, business and Māori leaders as well as the Waikato Plan, an overarching strategic plan developed by the region’s leaders that has targeted investment and economic development as two of its priorities.

Waikato REDA has a current establishment board and will call for expressions of interest in a skills-based, permanent board before the end of the year.

The organisation is based at Innovation Park, at the Ruakura campus in Hamilton. It’s very deliberately being built on the work of the Business Growth Services team, under the Waikato Innovation Park umbrella. The team works closely with NZTE and Callaghan Innovation to help grow businesses across the region, and will now be part of Waikato REDA.

“We’re continuing with this model of being out in the towns as it’s a great model and we know it makes a difference to those businesses,” Mr Fisher says. 

“So, while we’ll be talking to the region and all our supporters about the major economic development initiatives we’ll be undertaking on a larger scale, people can be confident that we’re continuing the on-the-ground help that’s so important.”

More information about Waikato REDA can be found at http://waikatoreda.wipltd.co.nz/

While you're here, don't forget to search through the Waikato Story's Toolkit to see if there is anything you can use for your business!