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Venture Taranaki has commissioned a major strategic economic review of State Highway 3 (SH3).
The review will form the basis of a corridor strategy that will seek greater recognition of the role that SH3 plays in supporting both regional and national economic development.
Venture Taranaki, and report partners the Taranaki Regional Council, ultimately aim to develop a robust business case for increased investment in the route. NZIER, in association with BECA, will assist with the analysis. The NZIER are nationally recognised for their independent, authoritative economic advice and have a strong presence in the transport sector. BECA have familiarity with the engineering aspects of the route.
Background
State Highway 3 is of strategic importance to Taranaki, linking the region with main population centres, markets and import/export facilities to both the north and south. It is a key route in ensuring agricultural, oil and gas and other products important to the regional and national economies get to processing and manufacturing sites and national and international markets.
The route will also play a vital role in future plans that could significantly add to New Zealand’s economic growth and productivity through initiatives such as an ‘east-west corridor’ and ‘blue highway’ linking other parts of New Zealand to Port Taranaki and beyond to markets in Australia and Asia.
Despite its importance, however, State Highway 3 has always struggled to gain funding that would make a significant difference to levels of service. This is a result of limited funding availability and tight criteria which typically invests the larger or faster growing population centres.
The challenges for State Highway 3 are compounded by difficult terrain and high development costs, and this report seeks to determine the true value of the route and what significant improvements to it may deliver.
Project components
The strategic economic review will adopt a two stage approach:
- An initial evaluation which seeks to maximise opportunities for further investment in State Highway 3 under current funding criteria
- A description and assessment of wider economic benefits and strategic context that would lead to an ‘Indicative Business Case’ for more detailed discussion with political and policy interests.
Industry input will play a vital role in the report’s development along with the economic and technical investigation, to ensure the report is supported by rich, credible and informed analysis.
Key elements of report development will include:
- Gaining clarity and agreement on the desire route improvements, and comparing that against what is currently planned.
- Identification of the specific challenges that Government/stakeholders believe that any SH3 corridor strategy must overcome in order to achieve funding ‘support’ for the desired upgrades.
- The extent that SH3 (in its current state) is restricting economic activity and how improvements would lead to more regional and national growth.
- Investigation of the opportunities for new and/or improved sector development that could also occur.
- The complementarily opportunities of SH3 improvements with other strategic network initiatives (such as the ‘Blue Highway’, the ‘East-West Corridor’, the ‘Waikato Expressway’ and the link over ‘SH29 to Tauranga’) and how additional economic benefits could arise from this.
- Development of a clear, concise, realistic SH3 route improvement proposition and the associated economic and wider strategic benefits to be gained from that investment.
Whilst the key focus of the report is the Taranaki region, the investigation will adopt an inter-regional perspective, not least because the SH3 corridor connects to the Waikato, but also because supporting the economic growth and development of the region may lead to more trade with other central North Island regions.
Outcome
The report is anticipated to be completed by Easter 2012. The outcome will be a business case that should encourage policymakers to think ‘differently’ and more receptively towards the SH3 route, its role, resourcing needs and importance in the national transport network.
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