Waikato regional economic profile - Waikato Regional Council

When measured for its value to the national economy, the Coromandel aquacultureindustry contributes $77.4 million in GDP to the national economy – and generates atotal of 1,193 full time equivalents. These results show that Coromandel productiongenerates significant benefits from aquaculture processing in adjoining regions, andfrom inputs sourced in other regions. 103The report also considers the benefit of future aquaculture developments in theCoromandel. Development in this area is highly likely because new marine farmingzones have been established as part of recent law reforms and further shellfish farmingconsents were issued in 2011. Production at a point in the future, 2025, was chosenbecause it allows for consideration of the benefit of full development of shellfish farms,the introduction of fish farms and to allow for comparison with the sector strategy andother industry projections. 104The mussel and oyster industry is expected to contribute a total of $60.7 million toWaikato GRP in 2025 (a 93 per cent increase over value-added in 2010), and provide835 full‐time Waikato jobs (a 93 per cent increase over 2010 employment). There arealso flow-on effects to the national economy. The Coromandel mussel and oysterindustry is expected to contribute $149.3 million to GDP in 2025 and provide 2,301full‐time equivalent jobs. 105The study also estimates the contribution of the introduction of fish farming. Productionof 6,000 tonnes of kingfish per annum is estimated to add an additional $34.9 million toGRP. The water space allocated to fish farming could produce 12,000 tonnes perannum and other species, such as hapūku, could generate higher returns per tonne.Assuming that the processing can be done on the peninsula (either at the existingshellfish factory in Whitianga, or at new plants built at Coromandel or Thames), this willcreate an additional 354 full‐time equivalent jobs. At the national level, fish farming inthe Coromandel is predicted to contribute an additional $45.6 million to New ZealandGDP, and create 474 new full‐time equivalent jobs. 106Figure 45: Marine farms and marine farming zones in the Waikato region103Sapere Research Group (2011, p. iii).104Sapere Research Group (2011, p. v).105Sapere Research Group (2011, p. vi).106Sapere Research Group (2011, p. vi).Page 40 Doc #: 2069885