Waterfront 'key' to Auckland's future

Harbour development will drive city's GDP by more than $4 billion, says economic benefits report. Photo / Dean Purcell

The number of workers on Auckland City's harbour edge will triple in the next 30 years in plans to make the area attractive to live and work, says the first study of economic benefits.

The PricewaterhouseCoopers report for Auckland Council's Waterfront Development Agency says planned work will result in 13,600 people employed on the waterfront across a range of industries.

Most will work in "high productivity" businesses, said agency chief executive John Dalzell.

An example was the ASB Bank, which had decided to relocate its head office of 1200 staff in a $138 million project in Wynyard Quarter.

"They want the best environment for their staff and we aim to attract more key and supporting businesses to the area."

A 4.5ha park is part of the agency's wish to make an attractive place to live as well as work, said Mr Dalzell.

The study estimated the Wynyard redevelopment would house 7000 residents by 2040, of which about 4740 would be in the workforce.

About $1.2 billion would be spent on projects over the next 15 years, including a new cruise ship terminal on the central wharves.

"The redevelopment will be the major driver of Auckland's economic future," said Bob Harvey, who is chairman of the council-controlled development agency. "About 40,000 serious jobs in the region will be attributed to the waterfront."

Mr Harvey said the economic benefits study showed it would generate $4.29 billion in GDP for the region by 2040.

But Auckland Mayor Len Brown said the GDP figure was "under- calculated. We can surely aim for greater that that."

Transport Minister Steven Joyce added a note of caution in launching the study's glossy brochure, which extolled the redevelopment's rewards, economic growth and aesthetic benefits.

The project aims to attract private investors but the minister hinted that any injection of state money was unlikely in the present economic climate.

He said the economic study focused only on the western part of the city's waterfront and ignored the future economic contribution of the Ports of Auckland, claimed to be worth about $270 million a year to Auckland.

"The bit in the middle is important and needs to be able to grow and prosper along with plans for the waterfront.

"Decisions we make about the port need to be done carefully - in support of economic growth, not economic decline."