PGF cash likely for at least one local business

Fergus Power.
Fergus Power.
Provincial Growth Fund money is likely for at least one Oamaru-based business, the Waitaki District Council chief executive, Fergus Power, says.

But Mr Power would not say this week which businesses he had tipped to receive money from the multibillion-dollar regional economic development fund.

"The [council] economic development manager has brokered meetings between the provincial growth fund and a number of local engineering and manufacturing firms which require capital to invest in new equipment, which will increase their productivity or make them more competitive," he wrote in his report to the council on Wednesday.

"It is likely that at least one, and possibly two Oamaru-based firms will receive funding support from the PGF."

Cr Jim Hopkins asked which companies Mr Power was referring to, but he declined to answer in the public meeting.

He said the issue would be addressed in next week's executive committee meeting.

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