Live: Government's $3 billion Covid-19 infrastructure spend-up
Upgrades to Auckland City mission, regional roads, stormwater infrastructure and the East Coast's Rugby Park are among the $2.6 billion worth of infrastructure projects the Government has approved to kickstart the battered economy.
The Government set aside a $3 billion fund for infrastructure designed to boost the economy and create jobs as the country recovers from the Covid-19 induced recession.
Cabinet has approved 150 projects after 1924 submissions for funding were received. The Government hopes the infrastructure boom will create 20,000 jobs.
The first 12 projects were announced on Wednesday.
They include a $22 million for Auckland City Mission's HomeGround, which will create 80 apartments, housing 2000 people over the next 25 years, a $55 million investment in road and stormwater infrastructure in the Bay of Plenty, which will pave the way for 1,100 sections to be developed, as well as $15 million for the final section of the coastal pathway in Christchurch.
On the East Coast, $8 million has been set aside to replace the grandstand at Rugby Park, Hawke's Bay will get $20 million to build a 12 hectare offsite port as part of the Whakatu Inland Port project, and Northland will receive $20 million for a Whangarei Rejuvenation project.
In Taranaki, $37 million has been allocated for a new thermal drying facility for wastewater, the Marlborough district gets $11 million for the Blenheim Art Gallery and Library, while Southland gets $10 million for Invercargill's inner city development.
Click on the link for 'Investment by region' graph
https://infogram.com/infrastructure-1hke60dl8p9325r
Wellington District Court will be refurbished at a cost of $14 million and $7 million will go to the West Coast for investment in the ports of Greymouth, Westport and Jackson Bay.
Other projects will be announced in the coming days.
Infrastructure Minister Shane Jones said the projects would stimulate activity in main centres as well as the regions.
"Both are critical to our economic and social recovery from the Covid-19 crisis," Shane Jones said.
Funding has been divvied up between four key sectors: Transport gets the most, receiving $708 million, while community and social development comes next with $670 million. Environmental projects get $460 million and Housing and Urban development projects get $464 million.
Click on the Link for 'Investment by Sector'
https://infogram.com/investment-by-sector-1hxr4z8dxqje4yo
We have focused on key sectors that are central to the Government's economic plan - housing and urban development, climate resilience, energy and community development," Finance Minister Grant Robertson said.
"This package will provide Kiwis with confidence that the Government is backing them in this challenging economic environment by creating new jobs and opportunities in communities around the country."
$400 million from the fund has not been allocated, but has been set aside as contingency.
The projects are in addition to the $12 billion New Zealand Upgrade Programme and existing Provincial Growth Fund investments.
Article supplied by Thomas Coughlan at STUFF