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 in the regional economy was highlighted in a 2012 report by Business and Economic Research Ltd (BERL), commissioned by the Council. It found:
- Port operation contributes $25.5 million to regional GDP and employs 138 full-time equivalent staff (FTEs).
- Port-dependent activity contributes $465 million to regional GDP and employs 1,270 FTEs.
- Industries that utilise the port collectively contribute $2.5 billion to regional GDP and employ 11,700 FTEs.
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 Peter Horton. 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.