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Prime Minister Christopher Luxon says North Canterbury businesses have ‘‘a world of opportunity’’ for growth.
Recent figures from Infometrics showed Waimakariri’s GDP grew 2.6 percent in the year to June, ahead of New Zealand’s economic growth of 1.7%.
Mr Luxon opened a new 5400 square metre factory for Rangiora-based Hallmark Group during a brief visit to the Waimakariri district on Wednesday.
Hallmark Group has been operating in Rangiora since 1992, employs 130 people and produces doors, veneer timber panels and invests in research and development.
It is one of several Waimakariri businesses experiencing economic growth.
‘‘This is a story of constant innovation, premium products and applying them to a whole range of sectors,’’ Mr Luxon said.
‘‘You are building a business which is growing to meet a customer need.
‘‘There’s a world of opportunity in North Canterbury to build out into the world.’’
Enterprise North Canterbury, the Waimakariri District Council’s economic development arm, highlighted the resilience of Waimakariri’s diverse economy.
The agency’s business support manager Miles Dalton said there was growth in business activity, spending and tourism, while unemployment was among the lowest in the country at 3.2%.
‘‘That points to an economy that continues to create opportunities despite ongoing global uncertainty.’’
Hallmark Group director Rick Allaway said around 40% of Hallmark Group’s work was supplying doors for Government contracts, including defence, health, education and university accommodation.
The company recently supplied nearly 1000 doors for Auckland’s City Rail Link project.
In the last 12 months the company has invested more than $3.5m into new plant, including an automated trimming line.
‘‘It is a big part of setting us up for the future,’’ Hallmark Group director Braden Hickmott said.
‘‘We now have the capacity to at least double our production.’’
The company’s chief financial officer James Hickmott said the Government’s investment boost scheme helps the business case when managing big purchases.
Under the scheme, businesses can claim 20% of the cost of new assets as an expense in their tax returns.
Waimakariri MP Matt Doocey, who is also Mental Health Minister, said Hallmark Group was supplying doors to support expansion in the mental health sector.
Mr Doocey said Mr Luxon visited other growing Canterbury businesses, including Woodend Bakery and SmartGrass at Kainga, north of Christchurch.
■ LDR is local body journalism co-funded by RNZ and NZ On Air.
