The strategy designed to make Auckland New Zealand's economic powerhouse has been adopted by Auckland Council.

The Economic Development Strategy (EDS) is a 10-year economic vision for Auckland that sets the future roadmap for how the region does business

"New Zealand expects Auckland to be its economic powerhouse," says the Mayor. "This strategy provides the roadmap for getting there.

"To build Auckland's economy, we have to be globally competitive, spend on education and research, support investment in infrastructure, up-skill our workforce and encourage visitors to Auckland."

The action-based strategy has ambitious economic goals. They include an average increase in regional exports of greater than 6 per cent per year, average annual real GDP increases of greater than 5 per cent annually and average productivity increases of more than 2 per cent a year.

There are five priorities to achieve these goals. They are:

- creating of a business-friendly and well-functioning city

- developing an innovation hub recognised across Asia and the Pacific

- becoming more internationally connected and export-driven

- investing in people to grow skills and a local workforce, and

- developing a vibrant, creative international city.

Council's Economic Forum Chair, Arthur Anae, says Auckland is already implementing the EDS, with important projects such as the fast broadband rollout, the Eastern Transport Arterial Link, development of the Wynyard Quarter and the Southern Initiative well underway.

"Auckland's EDS is a template for all of New Zealand to use to build its economy," says Councillor Anae.

A broad variety of organisations have been instrumental in creating the strategy including Auckland Council's economic development agency, Auckland, Tourism, Events and Economic Development (ATEED), the Economic Development Forum and Business Advisory Panel, the Ministry of Business, Innovation and Employment, Ministers of the Crown and local businesses, leadership organisations, and education and community leaders in Auckland.

The strategy supports the Auckland Plan's vision to create the world's most liveable city, and develop an economy that delivers opportunity and prosperity for all Aucklanders and New Zealand.

Copies of the EDS will be available from mid September at libraries and council service centres. A digital version will also be available at www.aucklandcouncil.govt.nz/eds