Government invests $48 million in seven infrastructure projects in Taranaki

The Government has invested $48 million in seven infrastructure projects in Taranaki to support jobs and the regional economy.

Repairs and redevelopment of Yarrow Stadium in New Plymouth will bring it back to full use while creating economic stimulus and jobs, Prime Minister Jacinda Ardern has announced while visiting the region and the stadium today.

The Government has invested $48 million in seven infrastructure projects in Taranaki to support jobs and the regional economy.

"The grandstands at Yarrow Stadium have been out of use for several years due to earthquake risk and the community has been looking for solutions," Jacinda Ardern said.

"The Government's $20 million investment, with co-funding from the regional council, will bring the stadium back to full operational use, creating 150 jobs.

"Across the country we are backing shovel-ready infrastructure projects as part of our 5-point economic plan to keep New Zealand moving: by investing in people, creating jobs, preparing for the future, supporting small businesses and positioning New Zealand globally.

"Projects like sports facilities, pools and libraries unite communities and supporting them is a win-win for regional economies and social wellbeing, as we reap the rewards of going hard and early in response to Covid-19 to get our regions and economy back open again.

"The funding announced today is part of the $3 billion infrastructure package in the COVID-19 Response and Recovery Fund, announced by Finance Minister Grant Robertson Infrastructure Minister Shane Jones on July 1. The fund is expected to deliver more than 20,000 jobs across New Zealand and unlock investment with a project value of more than $5 billion.

All approvals are in principle and subject to contract negotiations. Investment values are also subject to change.

(With Inputs from New Zealand Government Press Release)