Just released is strategic report 35 BY 35, the ten-year roadmap for Hutt Valley business growth, with a strong focus on manufacturing.

The  ambitious 10-year plan is to grow the Hutt Valley’s GDP by 35%, increase productivity by 16%, and increase highly skilled jobs by 18% – putting our region at the heart of New Zealand’s manufacturing, research, science and innovation industries; delivering business and community prosperity.

There are over 15,000 businesses in the Hutt Valley contributing $10 billion to the New Zealand economy and employing more than 70,000 people.

 

In the picture:Patrick McKibbin, Chief Executive, The Hutt Valley Chamber of Commerce.

The plan wants to see:

Productivity increase by 18.3%

Increase highly skilled jobs by 16.5%

GDP increase by 35%

Higher average wages

More jobs

Greater wellbeing

Better infrastructure

Based on the past five years’ performance alone, linear growth for Hutt Valley is predicted at 30.7% by 2035 (44.1% in Upper Hutt and 26.4% in Lower Hutt). The ambition is to exceed linear growth.

Higher productivity than the national average

In the financial year to March 2022, the Hutt Valley exhibited a robust productivity level, with GDP per filled job amounting to $138,345. This figure surpassed the national average of $132,815, indicating the region’s higher productivity levels.

Productivity growth

Productivity in the Hutt Valley in March 2022 demonstrated steady growth, increasing by 2.8% compared to the previous year, outpacing the national increase of 2.3%. This growth trend is indicative of a region that values efficiency and innovation.

The Hutt Valley is the engine room of the Wellington region – a vibrant hub of manufacturing, innovation, science and research, and many outstanding support businesses, which together form the thriving business community that we take immense pride in.

The region has existing and future plans to invest significantly in construction and infrastructure that will enable businesses. The recently signed off Te Wai Takamori o Te Awa Kairangi (RiverLink) project is a great example of this.

Patrick McKibbin, Chief Executive says The Hutt Valley Chamber of Commerce is very ambitious for the Wellington region. “We will have a focus on our key sectors including Manufacturing, Professional Services including Science and Research, Construction and Infrastructure, and our many other businesses that make up our brilliant community.

We will do this by:

• Nurturing collaboration and partnerships
• Growing skills and talent
• Building infrastructure that supports growth
• Fostering innovation
• Promoting our strengths

“The report provides a platform for business growth in the Hutt Valley, and a set of actions and targets that can be worked towards and measured.”

To receive a copy of 35 BY 35, Hutt Valley Chamber of Commerce www.hvchamber.org.nz