Kānoa - Regional Economic Development & Investment Unit
Kānoa - Regional Economic Development & Investment Unit (Kānoa - REDIU) was established in 2018 within the Ministry of Business, Innovation and Employment to support delivery of government funding to enhance economic development opportunities in regional New Zealand.
Previously known as the Provincial Development Unit, Kānoa – REDIU was established in 2018 within the Ministry of Business, Innovation and Employment to deliver the Government’s strategy of financially supporting economic development in regional New Zealand.
To ensure this happens, Kānoa – REDIU is dedicated to investing in our regions to help them build their economies and communities.
How Kānoa - REDIU works
Kānoa - REDIU works with other Government organisations and industry, communities, iwi and local government to manage and deliver funds tailored to build our regional economies. Since 2018, the Government has allocated $4.5 billion towards a range of funds managed and administered by Kānoa-REDIU.
These funds include:
- The Provincial Growth Fund
- The COVID-19 Response and Recovery Fund
- Infrastructure Reference Group
- The Strategic Tourism Assets Protection Programme
- NZ Upgrade Programme: Regional Investment Opportunities
- COVID-19 Worker Redeployment Initiative
- He Poutama Rangatahi;
- The Māori Trades and Training Fund
- The Sector Workforce Engagement Programme
The Government has allocated $3 billion, over 3 years. This is further supported by a commitment to improve employment outcomes across Aotearoa.
The Provincial Growth Fund
The Provincial Growth Fund aims to lift productivity in the provinces. Its priorities are to enhance economic development opportunities, create sustainable jobs, enable Māori to reach full potential, boost social inclusion and participation, build resilient communities, and help meet New Zealand’s climate change targets.
He Poutama Rangatahi
He Poutama Rangatahi is a pilot initiative focused on tackling youth unemployment.
He Poutama Rangatahi has transitioned to the Ministry of Social Development.