The Taranaki Regional Council owns 100% of Port Taranaki Ltd on behalf of the people of the region.
The port is a core component of the region’s transport infrastructure and makes a significant contribution to the regional economy.
And its annual dividends to the Council help to offset rates and are a major factor in our status as one of the country’s lowest rating local authorities.
Port of importance
The port’s crucial role to the regional economy hs been highlighted in a series of reports by Business and Economic Research Ltd (BERL), commissioned by the Council. The latest, in 2017, found:
- Its users would generate $353 million for the regional GDP and more than 900 jobs in the year the report was prepared.
- The port’s own operations would generate an estimated $28 million for the regional GDP and generate almost 320 full-time jobs.
- Despite fluctuations in trade, the port remains a key part of the Taranaki economy and it is likely to remain so
Independent and successful
The port is run independently from the Council, with its own Board of Directors and management structure. By law, the Council is limited to a maximum of two representatives on the Board of Directors. These are currently the Council Chairman, David MacLeod, and Cr Charlotte Littlewood. The Board has a total of seven members.
In recent years the port has been reporting record revenues in the face of trading conditions that are sometimes volatile.