Te Puia tourism centre and the Māori arts and crafts training centre will receive $7.6 million from the government to safeguard its future.
The money is part of last week's Budget and will be spread over two years to help bring relief to Te Puia.
Māori Development Minister Nanaia Mahuta said the institute's continuity was vital - culturally and economically.
The institute had been part of the country's Māori arts and tourism landscape for nearly 100 years, and was expected to continue to play a vital role as Aotearoa recovered and rebuilt, Mahuta said.
"The support will safeguard the future of toi Māori and ensure that our future carvers, weavers, waka exponents, and arts and crafts champions have a place to hone and perfect Māori arts for generations to come.
"I also have no doubt iwi partners will be working diligently to ensure that they continue to carry the business through this uncertain time."
Prime Minister Jacinda Ardern and Mahuta are in Rotorua today for a series of discussions on how the region is recovering from Covid-19.
Along with Tourism Minister Kelvin Davis and local MP Tamati Coffey, they were meeting tourism and hospitality operators at the economic development agency Destination Rotorua, with the mayor, deputy mayor and members of the executive team at Rotorua Lakes District Council, and were visiting Te Puia to meet with the CEO and members of the board to hear about their recovery plans.