The Government are injecting $152.7 million into the Tairāwhiti - East Coast region from the Provincial Growth Fund, in an attempt to develop transport, businesses and create more jobs.
Prime Minister Jacinda Ardern is in Gisborne today for the announcement and said the funding would be a "significant boost" for the region.
Of the $152.7m:
- $137m is going to transport, which Regional Economic Minister Shane Jones said had suffered from "historical under-investment and recurring extreme weather events".
"The locals have repeatedly told me they need an efficient and reliable road network that better connects the community, helps them get goods from farm gates and forests to the local and global market, and supports tourism," he said.
- $13.3m would be going towards tourism projects.
- $1.3m would be put towards forestry projects.
- $1m was for projects in the food and beverage sector.
"Tairāwhiti [East Coast] offers a unique quality of life combined with genuine business and economic opportunities," said Ms Ardern.
"However, it faces significant infrastructure challenges, high unemployment and lower productivity."
Part of the $152.7m would see $5.5m going towards Gisborne's airport redevelopment, which Mr Jones said said would provide "opportunities to expand and grow, as well as bring more visitors to the regions" through reliable air travel.