Funding f¬¬or regional flood resilience confirmed

Flood resilience projects protecting communities across the regions could get started as early as this year, with funding from the Regional infrastructure Fund now confirmed, Regional Development Minister Shane Jones says.

Mr Jones made the announcement today at the regional growth summit in Nelson, the first in a series of such summits to be held across the country this year and into next.

"As I announced in Budget 2024, the Coalition Government will contribute $101.1 million from the Regional Infrastructure Fund to 42 consented priority flood resilience projects that will protect valuable land and assets in 11 regions during severe weather.

"The first pillar of this Government's plan to get New Zealand's economy back on track is a focus on building infrastructure for growth and resilience," says Mr Jones.

"The $1.2 billion Regional Infrastructure Fund (RIF) is one of our key levers for driving productivity, prosperity, and resilience in our regions by accelerating regional infrastructure projects that will make material differences in future-proofing growth."

The 42 approved projects include different types of flood protection and management infrastructure such as stopbanks, pump stations, groynes and culverts. The Government will fund 60 percent of the cost, with the relevant local authority co-investing the balance.

"We understand that resilience infrastructure is deeply interlinked with enabling economic growth and development. Infrastructure done well protects homes, businesses and assets, improves investment confidence and enables people, goods, and information to keep flowing during and after disruption.

"This funding will allow physical work to begin in the 2024/25 summer season, if not sooner. We've seen the devastating impact extreme weather events can have on New Zealand's regional communities. Investment in flood resilience provides security for local landowners and communities and is an investment in our future," Mr Jones says.

Today's summit brought together community and business leaders from across Te Tauihu, the top of the South Island, to discuss the region's growth and infrastructure priorities and opportunities to partner with the Government.

"It's an opportunity for us to be clear about the priorities of this Government, how the Regional Infrastructure Fund can invest in our regions, where our priorities align, and how we could work together," Mr Jones says.

The Regional Infrastructure Fund, administered by Kānoa - RD, opened for project applications on 1 July 2024. More information about the Regional Infrastructure Fund can be found here: www.growregions.govt.nz/new-funding/regional-infrastructure-fund

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