Hon Shane Jones, Minister for Regional Economic Development
The Provincial Growth Fund (PGF) is supporting Gisborne business Leaderbrand to produce salad vegetables year round and create more jobs in the Tairāwhiti region, Regional Economic Development Minister Shane Jones announced today.
“Our support for Leaderbrand will help them build large greenhouses that produce salad vegetables throughout the year and boost production from their salad processing plant,” Shane Jones said.
“The $15m loan from the PGF will support its existing capacity and employment, with the new greenhouses expected to add another 50 jobs throughout the company once the plant is running at full capacity.”
“Leaderbrand has been part of the Gisborne region for over 40 years. Their vision for the future is to make Gisborne the New Zealand capital for fresh produce. This is a vision built on the natural advantages of a region that will drive strong growth for local businesses, as well as higher wages and more jobs.
“The $15m loan from the PGF will help Leaderbrand construct greenhouses on an initial 20-30ha of their land. This will allow them to test their more ambitious investment plans and be in a stronger position to expand this programme as future investment allows.
“The greenhouses will also protect crops against severe weather while reducing environmental impacts for water and fertiliser use,” Shane Jones said.
Funding from the Provincial Growth Fund is approved in principle and announced, after which contracts are negotiated. Payments are made once agreed milestones are met. These are set as part of contract negotiations, and differ from project to project.