While it would be formally integrating into Te Pukenga today, the institution released its Economic Impact Report (EIR) which highlights the significant role the institution has on Southland’s economy.
It was released after Te Pukenga chief executive Peter Winder indicated that cost cuts would be needed across the mega polytech as it forecast $63 million deficit.
The EIR report, produced by BERL - Business and Economic Research Limited, stated SIT have contributed $508.5 million in GDP to Southland’s economy in the last five years and had seen a 23% overall increase in domestic and international student enrolments in the last decade.
Most recently, in 2022, there were 10,684 students who supported the Southland economy through paying for rent, food and other goods and services, spending about $91.7 million annually in the region.
Acting chief executive Darryl Haggerty, said although he knew the value of SIT, the report had confirmed his view of the institute’s importance to Southland.
"Almost everyone in our community has a connection with SIT, from being a past or present student, staff member, business, or community group."
Altogether, the combined total spend of SIT and its students is around $157.1 million annually, generating $101.7 million in GDP — around 1.5% of the region’s total GDP, the report states.
The institution was also one of Southland’s larger employers with 372 full-time equivalent staff, the report shows.
The report stated that SIT was an anchor institution in Southland and its presence was important for the well-being of the region’s population.
It would also feature as a valuable driver of the region’s economic recovery, Mr Haggerty said.
"My view is that SIT will continue to be...valuable, evolving and locally relevant ."
By: Staff reporter
