A Food Innovation Hub in Hawke’s Bay is a step closer with the Hastings District Council giving the go-ahead to enter the first phase of the development process with the Ministry of Business, Innovation and Employment.
Last month, the Government announced it would invest $12m from the Provincial Growth Fund into the initiative, a collaborative venue designed to harness and leverage Hawke’s Bay’s food, beverage and agri-tech sector potential.
An earlier business case for the hub had estimated the total construction and operational costs for a 15-year period would be about $18m.
The Government’s investment was contingent on the other $6m being sourced from regional businesses, agencies and local authorities.
This week, the council authorised entering a delivery agreement with the Ministry of Business, Innovation and Employment, as long as the council was not exposed to any unbudgeted financial risk or future contingent liabilities.
This agreement was a pre-requisite to the PGF funding being released, and once confirmed and other investors secured, the council would then transfer the construction and operation of the Food Innovation Hub to another entity.
For more than two years an industry-led governance group, supported by Hawke’s Bay councils, has been looking into establishing the hub that will cement the region’s place as a centre of excellence for food in New Zealand.
It’s also expected to foster innovation, and collaboration and build industry skills and competence – bringing about crucial economic benefits and employment opportunities.
Council economic development manager and chair of the governance group engaged to develop and deliver the hub project Lee Neville said the facility had huge potential.
“The Hawke’s Bay Food Innovation Hub will be a centre of excellence for food, and provide a place for like-minded companies to share ideas and get support to innovate and grow.”
With the agreement approved, efforts will now turn to raising the $6m needed to top up the Provincial Growth Fund funding.
Photo: An artist's impression of what the Hawke's Bay Food Innovation Hub may look like.
11 October 2019
Disclaimers and Copyright
While every endeavour has been taken by the Hastings District Council to ensure that the information on this website is accurate and up to date, Hastings District Council shall not be liable for any loss suffered through the use, directly or indirectly, of information on this website. Information contained has been assembled in good faith. Some of the information available in this site is from the New Zealand Public domain and supplied by relevant government agencies. Hastings District Council cannot accept any liability for its accuracy or content. Portions of the information and material on this site, including data, pages, documents, online graphics and images are protected by copyright, unless specifically notified to the contrary. Externally sourced information or material is copyright to the respective provider.
© Hastings District Council - / +64 6 871 5000 / firstname.lastname@example.org