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Dunedin's waterfront development project is to get an $820,000 cash injection from the Government's Provincial Growth Fund, it has been confirmed.
The announcement, made by Regional Economic Development Minister Shane Jones at Toitu this afternoon, would also see a further $60,000 contributed to the development of Otago's Economic Development Strategy.
Mr Jones made the announcement while attending the signing of a memorandum of understanding by the city's Dunedin waterfront partners at 2.30pm.
The $820,000 contribution would pay for a full feasibility assessment and the development of a business case for the Dunedin waterfront project, including engineering, environmental and commercial feasibility.
Mr Jones said a revitalised waterfront, including a hotel and residential accommodation, would provide a focal point and add to Dunedin's appeal as a visitor destination.
"The project is the right kind of ambition we want to see regions striving for and includes a plan to connect the town centre, the university and the stadium with walkways, cycleways and a bridge.
"This kind of thinking is very likely to attract new businesses with its appealing environment and its sustainable future focused design,'' he said.
The $60,000 contribution towards the development of an Otago economic development strategy would allow its steering group to "build its capability to allow it to better assess long-term regional opportunities''.
"This essential work will help the wider Otago region identify areas of common interest for investment and also reduces the risk of duplication or increased transaction costs across the region.''
Mr Jones was joined by Dunedin-based Economic Development Minister David Parker at today's announcement.