PGF invests in Central Otago businesses

2019-11-28T17:00:00

​28 November 2019

The Ministry of Business, Innovation and Employment's Provincial Development Unit has announced two Central Otago businesses will receive Provincial Growth Fund investment to support economic growth and employment opportunities in the region.

The Provincial Development Unit has supported the Otago engineering and manufacturing sector to work together and modernise equipment to increase the volume and variety of work that can be done in the region while adding skilled jobs to the sector.

Alexandra-based sheet metal business Central Custom Engineering and Cromwell-based New Zealand Structural and Insulated Panels Ltd have both received funding to purchase game-changing equipment.

Central Custom Engineering has received $156,000 towards a water jet cutter to help the business increase production and meet current demands for its industrial quality trailers, alloy dog boxes and truck decks.

Central Custom Engineering owner Aidan Helm said the business felt privileged to have the opportunity "to bring this cutting edge technology to Central Otago that most cities don't have".

"This technology enables us to increase production, employ more staff, do a wider range of work, and do work for other Otago firms that is currently being done outside of the region."  

New Zealand Structural and Insulated Panels Ltd received $110,000 towards equipment to manufacture their six-metre long structural insulated panels for large houses and small commercial buildings.

NZ Structural Insulated Panels General Manager James Clark said "this funding not only supports the growth of our business but sends out a positive message of support towards innovation in New Zealand as well as supporting the healthy home movement which we are very proud to be a part of."

Central Otago Mayor Tim Cadogan welcomed this week's announcement.

"It's marvellous to see two innovative Central Otago firms being recognised and supported to take their businesses to the next level and through doing so raising the level of employment and productivity of Central Otago."

Page reviewed: 28 Nov 2019 6:11pm