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Taranaki Industry Projections

Taranaki is projected to grow steadily, and potentially require 19,600 more staff by 2036, Venture Taranaki's updated Industry Projections have found.

Venture Taranaki commissioned Wellington economists BERL - Business and Economic Research Ltd – to update their 2006 Industry Projections. The report – Industry Projections 2013 – 2036 - provides an independent assessment of the Taranaki economy and projections of regional employment and GDP over the coming decades.

Taranaki achieved employment and GDP growth above the national average over the last seven years, and population growth has matched the New Zealand average. On a GDP per capita basis, Taranaki is well ahead of the national average. 

The Taranaki economy continues to be driven by the oil and gas and agriculture sectors and associated secondary industries such as food processing and engineering. The region employs a far larger proportion of workers in these areas than the nation as a whole.

The report also looks forward and projects the impacts for regional and industry growth that could result from key trends.

In total, Taranaki’s economy could be expected to grow faster than the national economy over the next 23 years, a reflection of the growing importance - and potential - of the oil and gas sector. Associated industries such as engineering, other manufacturing, and transport and storage were also likely to see expansion. 

Key projections from the BERL report:

  • Taranaki employment expected to average 1.4% annual growth to 2036.
  • Regional GDP expected to average 3.8% annual growth to 2036.
  • 19,600 more FTE’s required in the region – to 70,700 FTEs in 2036.
  • Strong employment growth projected in engineering, transport and storage, oil, gas and energy industry, other manufacturing, construction.
  • Majority of industries in Taranaki are anticipated to grow.


 
 
   
 
     
  Download the full report below.
 
 


Taranaki Industry Projections 2006-2026 359kb
Taranaki Industry Projections 2013-2036 5MB
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