A2 - Investment Strategy for Waitohi-Picton

This submission by Picton Business Group is one of six regarding the economic wellbeing of Waitohi-Picton, for the benefit of residents, businesses and visitor experience, with a flow-on benefit to the wider Marlborough community. Please refer to our submission ‘A1 – Strategic direction for Waitohi-Picton’ for the context of this and all submissions.

Picton Business Group submission A2 – Investment Strategy for Waitohi-Picton

Picton Business Group request Marlborough District Council initiate work on creating an Investment Strategy for Waitohi-Picton with allocated budget and an assigned project leader.

To invest in any region, strategy or project requires an estimation of the value expected from the amount invested. That alone only looks at the individual return in isolation. To make strategic decisions that investment must be compared to alternative uses of funds, past and future, and the potential return. This is obviously a standard approach to good financial governance.

With this financial analysis as a cornerstone other key social pillars – Functional, Environmental, Cultural, and Community – are aligned.  

Infometrics produces a Quarterly Economic Monitor, for Marlborough. KPIs include GDP, Business Counts, Consumer Spend, Tourism Spend, Guest Nights, Traffic Flows. As a general indicator it can either inflate or deflate confidence. However we need more specific analysis.

We want to be measured!!

Waitohi-Picton, as with all Marlborough townships, will welcome the opportunity to have their potential measured against the required investment and other options.

To make good decisions, and drive business confidence, we need to know that potential investment options are being evaluated in their own right, being compared to other uses of funds and are measured against potential returns.

Setting targets is only half the story. The mechanisms must also be in place to show actual results. Hence the need for the quarterly results to be at regional level, to isolate out Waitohi-Picton as defined in the Picton Business Group Strategic Plan. To see the number of new businesses, the growing number of guest nights and spend.

We want to see all areas of Marlborough succeeding individually, as well as collectively, the amount of investment in each area and the impact that investment generates.

Getting benefit from high impact initiatives takes time. We must start now to target and measure the achievement of short, medium and long term goals.

We want to work with the council via the continuation of our working partnership and are more than keen to discuss this matter further along with our other five submissions.

About the Submitter:

Picton Business Group represents members from the business community in the wider Waitohi-Picton area, from Koromiko through to Waikawa, and Totaranui-Queen Charlotte Sound; with membership across commercial, industrial, retail, tourism, arts & culture and maritime sectors. With their support we lead and advocate for Waitohi-Picton to be a well-planned, appealing and sustainable business environment, empowering existing and new businesses to reach their potential with confidence.