Corson Grain chief executive Brett Thompson said the commercial loan, which is up to $6 million, enables the company to be able to keep harvesting grain for growers affected by the cyclone and the ability to recontract them for next year too.
“The lifeline to Corson and the growers also has a positive domino effect for downstream suppliers, including harvester and truck drivers and others throughout the region.
“We can also buy additional food grade maize in Australia to ensure continuity of supply for our New Zealand food manufacturers,” said Mr Thompson.
“We have really appreciated the support of our local MBIE (Ministry of Business, Innovation and Employment)team in helping facilitate this assistance.”
Cedenco managing director Tim Chrisp said the company was very appreciative of the show of support for Tairāwhiti businesses.
“In particular we appreciate the work of East Coast MP Kiri Allan, who worked tirelessly on our behalf.”
The Regional Strategic Partnership Fund is a
$200 million fund set up in 2021, partnering with regional entities to invest in projects that they and the region have identified as regional economic development priorities.
“We continue to invest in those regional economies such as Tairāwhiti where unique business activities can flourish in those local settings. We want to support economies to become more productive, resilient, inclusive, and sustainable,” Mr McAnulty said.
“The $14 million for the two Gisborne companies will help growers to recover from recent extreme weather events, will purchase damaged crops from Tairāwhiti maize growers for animal feed, and support supply and logistics services which were affected by the cyclone.”
Mr McAnulty said since 2018, $3.2 billion has been paid out from the eight regional investment funds to support the regions’ economies.
“A staggering 1148 projects have already been completed.
“Through a mix of grants, loans and equity, we’re investing in projects that will enable our regional businesses to continue to grow.”
