Development West Coast(DWC) was set up as a Charitable Trust in 2001 to manage, invest and distribute income from a fund of $92 million received from the Government.
This fund was an adjustment package for the loss of indigenous forestry and the privatisation of much infrastructure on the West Coast in the late 1990s.
DWC is governed by a Deed of Trust which specifies DWC's Objects - to promote sustainable employment opportunities; and generate sustainable economic benefits for the West Coast, both now and into the future.
A Board of seven Trustees govern DWC and they are supported by an Advisory Body who assist them on matters around the commercial finance function, and Investment Advisors who assist them on the management of the Fund. A staff of ten carry out the day to day functions of the Trust.
Achieving our Objects
Since inception, DWC has been involved in, invested and supported numerous projects and businesses throughout the West Coast in an endeavour to promote employment and generate sustainable economic benefits in the West Coast.
DWC's support falls into three main areas – business support/assistance, commercial finance and community. Highlights of this support to date include:
- Investing over $2 million into the Tourism Major Regional Initiative (MRI) programme.
- Committing over $22 million (over $6 million to each of the West Coast District Councils) for the Major District Initiative (MDI) Programme.
- Committing a $6 million ($2 million each to the Buller, Grey and Westland District Councils) Extraordinary Distribution Fund (EDF).
- Providing $1.5 million ($750,000 each to the Buller and Westland District Councils) for two cycleway projects.
See the Community section for more information on these and other projects.
- DWC provides a range of assistance and support to the business sector, including:Facilitating business mentoring
- Facilitating training opportunities and programmes
- Facilitating business networking events
- Sourcing information on relevant topics for local businesses
See the Business section for more information on these services.
DWC has invested in numerous commercial businesses through loans and equity investment up and down the West Coast. DWC has supported a diverse range of businesses, including timber, adventure tourism, retail, horticulture and accommodation.
See the Commercial Finance section for more information on this function.