Wellington leads country for high-tech growth
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Wellington’s high-technology companies in the TIN100 have grown three times faster than any other region in the country.
That's according to the latest report from TIN100, which measures the performance of New Zealand’s largest export-focused technology companies.
“Wellington-based companies have seen an overall increase in revenue of 11%, the largest gain of all the regions,” says Gerard Quinn, CEO for Grow Wellington, the region’s economic development agency.
"The 11% translates into $135 million growth over the 2012 to 2013 period; far above the 3.7% average across all TIN100 companies nationally."
It is the fastest growth rate of any region in the country with Auckland at 3.7%, Central New Zealand at 3.6%, the South Island at 1.5% and Hamilton at -8.6%.
"This only re-emphasises what we are already know, Wellington is the high-tech hub of New Zealand," Quinn adds.
From 2012 to 2013, the TIN100 grew by $260m in total revenue (across all 100 companies), or a total growth of 3.7%.
The strong regional growth in the Wellington region is heavily supported by four ICT companies: Datacom Group (+$82m), Xero (+$20m), Intergen (+$13m) and Fronde Systems Group (+$12m), which account for growth of $127m.