|CentrePort Contribution Close to $2 Billion|
|Friday, 15 October 2010 09:57|
An economic impact study by consulting group BERL shows CentrePort’s port and transport activity generates around $1 billion of GDP in the lower North Island, both directly and through the flow-on effects of its operations.
When the company’s property activities are included, the total group impact of CentrePort in the region is close to $2 billion, the study reveals.
The release of the study follows the recent announcement of a 20 % increase in the CentrePort’s underlying net profit and of plans to expand its operations. BERL estimates that CentrePort’s activity contributes, either wholly or partially, to at least 6 500 jobs within the lower North Island.
The study shows that 76 % of CentrePort’s economic impact is generated within the wider Wellington area, with the balance in the Manawatu-Wanganui-Taranaki-Wairarapa region.
CentrePort Chief Executive Blair O’Keeffe says “The findings highlight the importance of CentrePort’s activities. We are a growing company with one of the most diverse portfolios in the country. This diversity supports our business results and also has the added benefit of stimulating a lot of related activity. As we grow, so does the regional economy”
“CentrePort provides essential infrastructure for oil, cement, coastal ferries, cruise ships, export and import trade, storage and industrial/commercial property, all of which look set to continue growing. Ongoing improvements in profit demonstrate that this is a good business. Nearly $2b of GDP impact makes this a good business doing good things for the local economy,” he said.
He stressed that on going investment in Wellington as a key transport hub was vital to support the projected doubling of freight movement in New Zealand.
“Investment in road, rail and port infrastructure is essential to Wellington’s economy.“
Contact: Blair O’Keeffe
04 495 3800