Ngā Iwi i Te Rohe o Te Waiariki economic analysis and modelling show if iwi combined their efforts to grow our aquaculture investment, the sector could, at maturity, generate $1.5 billion and create more than 2000 jobs for our whānau.
We understand no single iwi can create a world-class aquaculture sector and that collaboration will unlock significant potential for not just the rohe but the whole motu.
The collective efforts of, say, ten iwi, could generate an internal rate of return (IRR) of 10 per cent, compared with the IRR of 2 per cent if one or two iwi attempt to do it alone.
This eye-opening analysis is among the updates we provided to Minister of Oceans, Fisheries and Environment David Parker, and Under-Secretary Oceans and Fisheries Rino Tirikatene in a letter this week.
We were also able to confirm with the ministers the business case development for greenlip mussels, sea-run kingfish, land-based kingfish, a variety of seaweed, and scallops is nearing completion, outlining the economic benefits of each venture.
We watch with interest the Government efforts in other rohe, including the new Hauraki Marine Reserve, RMA reforms and the Government Aquaculture Strategy. It is clear everything our collective iwi is championing in Waiariki aligns with these same policies and programmes.
We will continue to work diligently to bring our plans to life, including the ongoing collaboration with MPI and NZTE officials to map out our critical next steps.