Local and international companies are eyeing Christchurch as a business location because as New Zealand's second largest city it "punches above per capita weight in future focused industries such as manufacturing, technology, healthcare, agriculture and aerospace" according to the city's economic development agency.
Boyd Warren, GM of Innovation and Business Growth at the agency, ChristchurchNZ, says the city has built back better than before both socially and economically after the adversities and tragedies of the past decade.
"A people-first approach, unity and collaboration across business and community, along with significant investment in infrastructure and services are factors which have created real resilience, optimism and opportunity," he says.
Warren says residential is not the only affordable property type in Christchurch. Commercial property prices and rents are also compelling. Prime monthly CBD office rent sits at $370-$400 per sqm compared to $660-$870 in Wellington and $575-$795 in Auckland meaning much lower set-up costs and overheads for businesses.
Among companies looking at a move south is Middleware New Zealand, a solutions-based consultancy services company. It has offices in Auckland and Wellington but is planning to open a branch in Christchurch soon.
A Brisbane-based sports-science company, Inception Brands is also looking to cross the Tasman to Christchurch while the ANZ bank says its move to open a contact centre in the city in 2019 enabled it to draw on a skill set and market that hadn't been tapped as much as it had been in other big New Zealand cities.
Middleware's senior sales manager Sera Skinner says being able to attract and hire "serious local talent" was a key driver behind the decision to open in Christchurch. "This encourages innovation and supports the regeneration of the CBD as a business hub.
"We have a small number of Christchurch based team members currently, and we will look to grow this over the coming months, enticing additional team members to enjoy the magical vibe of the southern region," she says.
Inceptions Labs inventors have industry experience spanning over 30 years, and are looking to expand to a dozen staff with some high-value developments in the pipeline.
"We're working closely with Callaghan Innovation and New Zealand Trade & Enterprise (NZTE) to firm this up, but the expansion looks set and we're really excited for the next step," says director Matt Walley.
Meanwhile Warren says the city offers economic opportunity, a welcoming, supportive business environment, and a quality of life that attracts the world's best and brightest. Christchurch has big city amenity but without the big cost – and there is plenty of room to think big.
"Canterbury has a competitive advantage in several industry clusters and we are working to grow them further. Aerospace and future transport, health tech, food, fibre and agritech and hi-tech services are all in hot demand," he says. "The Christchurch Antarctic Office and Screen CanterburyNZ also leverage our unique regional strengths."
Warren says as well as being the basecamp from which to explore the spectacular South Island, Ōtautahi Christchurch is one of only five Antarctic Gateway Cities in the world. The screen industry is taking off, thanks to talented local crew and creatives and versatile locations that have been the backdrop to numerous productions including powerhouses Netflix and Disney.
"The local business community is brimming with support networks and industry meet-ups for businesses of all sizes, stages and sectors. There are incubator and accelerator programmes that support start-ups and scale-ups to grow alongside other successful Christchurch businesses," says Warren.
The city has four world class tertiary institutions, including two universities in the top 2 per cent worldwide, and attracts talent from other regions and overseas largely because of the quality of life.
He says compared to other major cities, Canterbury employers have experienced lower employee turnover rates which creates predictability as well as saving on resources and time to find new staff.
"Commutes to-and-from work are short, increasing quality time with family and friends and allowing residents to explore the great outdoors and all the entertainment the region has on offer"
"In addition to plenty of open spaces, our world class infrastructure includes an international airport and seaport, new libraries, convention centre, pools, parks, and health precinct. City leaders are united in their focus on a smart and sustainable future, Christchurch is a place for people and businesses to explore amazing opportunities."
Ōtautahi Christchurch is your gateway to business growth – download the complete report and explore the opportunities at christchurchnz.co.nz