The Waitaki district's economy is on a roll and the Waitaki Development Board expects it could get even better in the short term.
A major health check on the district's economic development has given it a big tick, showing Waitaki has turned the corner after suffering bad times in the 1980s and early 1990s.
Prepared by economic analyst Business and Economic Research Ltd (Berl), it shows that in eight key economic indicators, Waitaki district has done better than the national average in the 2006-07 year ending March 31.
The report is always a year behind - board chief executive Mark Jurisich acknowledges that.
But he is confident the 2007-08 report, due out about this time next year, will be at least as good.
‘‘We have had a good year to follow on,'' he said. ‘‘I expect the next report [for 2007-08] to be even better.''
To support that contention, he points to the continued growth in dairying along with record payouts to farmers, a strong year for viticulture in the Waitaki Valley, continued growth in tourism and a good year for the Alliance Group's Pukeuri freezing works.
The report after that, Mr Jurisich expects, will show the district's economy ‘‘slowing a little'' in 2008-09.
‘‘We are starting to get signs now that we have reached a plateau,'' he said.
That is because while the population decline in the district has been reversed and is now stable, economic growth will partly depend on getting more people to live in Waitaki.
Major developments, such as Holcim (New Zealand) Ltd deciding to build its $200 million cement plant near Weston or the development of more dairying rather than the expansion of existing herds, could affect that prediction and have a major boost to economic growth.
This is the second report prepared by Berl. The 2005-06 report showed a decline in economic activity but, because of the small size of the district and its economy, was affected by a fire at the Pukeuri freezing works which stopped production for about six months and the loss of about 120 jobs at Oceana Gold's Macraes mine.
‘‘Waitaki had a seriously bad year then,'' he said.
However, the long-term 10-year report from 1997 to 2007 showed substantial growth, proving the 2005-06 was a blip.
Mr Jurisich decided to commission Berl to do an annual economic report so there were concrete measures on which to gauge and plan the district's growth.
Before that, Waitaki was in an Otago-wide report in which Dunedin had a major influence.
