The first official discussions have been held for the newly launched Provincial Growth Fund (PGF).
The fund’s independent advisory panel held its inaugural meeting in Wellington on Tuesday.
The $3 billion scheme was announced by regional economic development minister Shane Jones last month and will be rolled out over three years.
It will help establish provincial infrastructure such as rail lines, ports, roads around the country.
The reopening of the Wairoa-Napier line for logging trains is among a number key projects to benefit from the government initiative.
The meeting was chaired by former New Zealand Oil & Gas board member Rodger Finlay.
Finlay is a fellow of Chartered Accountants Australia & New Zealand and is currently a governor of Radio NZ, deputy chairman of Rural Equities Limited, chairman of Mundane Asset Management (UK) and a director of NZ Thoroughbred Racing.
Jones says the panel will add “great value” to the provincial scheme.
“I’m confident we’ve got the right people with the right mix of skills, expertise and experience.
“After meeting with the panel today, it’s clear that each member has a passion for regional economic development and for what this Government is undertaking.
“This is the largest capital investment New Zealand’s provinces have seen in decades and the panel will be crucial in assessing proposals and providing the Government with guidance and advice.
“Today, I’ve asked the panel to look at the Ōpōtiki Harbour development – a project which has been in the pipeline for some years.
“The costs of the project have increased significantly because of engineering and geotechnical requirements. While the PGF is intended to boost our regional economies and provide opportunity, we must always be prudent and responsible with taxpayer money.
“The panel will report back to me on the project before the Government makes any final decision on it,” Jones says.
Other panel members include geologist and former chief scientist at NIWA Dr Charlotte Severnea, Northland Inc chief executive Dr David Wilson, National Infrastructure Advisory Board chair John Rae, businessman and lawyer John Sproat, public service worker Neville Harris, former NZ army engineer and Ports of Auckland business manager Rosie Mercer and Southland Regional Development Strategy manager Sarah Brown.
