Tauranga's legacy – shiny new infrastructure and big debt
Tauranga's council has trimmed over-optimistic population growth forecasts in the face of slowing development.
Last week, National Business Review print edition detailed how companies from around New Zealand and overseas are considering moving to the Bay of Plenty city, attracted by proximity to the port on relatively cheap industrial land.
In the second part of our series, NBR shows in this week's paper how Tauranga City Council's investment in infrastructure over the last decade has sparked a huge rise in debt.
At the very time Tauranga needs a growing ratepayer base to pay for its infrastructure work the city has suffered a severe decline in building activity.
Auckland is expected to soak up 60% of the country's population growth over the next 18 years, but is that the best thing for our biggest city or the country as a whole – especially considering Tauranga is just 2.5 hours down the road?