Taranaki's port is a prime driver for the area economy, a report has found. Photo: Taranaki Regional Council
Port Taranaki is worth $31.7 million to the region's gross domestic product and generates about 350 full-time jobs, according to its latest Business and Economic Research report.
The port's owner, the Taranaki Regional Council, commissioned the 2022 BERL report which is updated every five years.
The 2022 report was expanded to not only focus on the port's economic contribution, but also its impact on wider regional cultural, social and environmental well-being.
It highlighted the role port played in enabling its customers to do business.
The report estimated that the main businesses that used the port contributed $541 million in GDP, and supported 2263 full-time equivalent jobs.
"The port is a significant employer and driver of economic activity in the Taranaki region, as well as a provider of crucial and strategic infrastructure," the report said.
"It has a significant presence in the Taranaki community, and impacts the economic, social, cultural, and environmental well-being of the region."
It said the port was of "strategic importance for the oil and gas, forestry, agriculture, and tourism industries", and 65 percent of businesses that used Port Taranaki said it was "very important" in their decision to conduct business in the region.
"Most comments were about the fact that the port is the only viable and cost-effective transport for exports from Taranaki," the report said.
BERL highlighted the dividends paid to the Taranaki Regional Council, which totalled $8 million in 2021-22.
"By remaining profitable the port can further support the community, as the dividends it pays to the [Taranaki Regional] Council reduce the burden of rates on households in the region and support the council in providing public services and facilities," the report said.
Port Taranaki chair Richard Krogh said the report was confirmation of the port's importance to the Taranaki economy and community.
"The report highlights that Port Taranaki continues to have a key role in the long-term success of the region - not only economically but also culturally, socially and environmentally.
"The key is being flexible to changes in trade and market trends, and having the ability to adapt our facilities and services to meet these changes.
"Our operations, the industries and businesses we support, and the community assistance we provide have a wide-ranging impact and influence on our region, and we have a responsibility to ensure we are focused on continuous improvement and remaining profitable and sustainable for the betterment of the Taranaki community in the long term."
According to BERL, Port Taranaki's contribution to regional cultural, social and environmental well-being included:
- a commitment to health, safety and well-being comprehensive measures to ensure its operations are safe
- a good social licence to operate, having been there since 1875, integral part of the community, facilities enjoyed by the public
- a sustainable and profitable business.
- actively supports environmental initiatives in the community.
- supports development of offshore wind energy production