The Provincial Growth Fund (PGF) will provide a loan of up to NZ$1.8 million to TaranakiPine to allow the company to diversify and create new jobs, New Zealand’s Regional Economic Development Minister Shane Jones announced this week.
TaranakiPine is in the early stages of producing factory finished engineered timber panels, which can be used in the construction of floors and roofs in buildings. With support from the PGF, the company will now be able to accelerate the project from pilot stages to full commercialisation.
“This will generate seven new jobs directly and 13 new jobs indirectly and is an exciting investment that supports a locally-based business to fast-track new product to market, which will in turn help to unlock new economic opportunities in Taranaki”.
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