WELLINGTON THE FASTEST-GROWING REGION

Sarah Gardyne Press Release, Tech News, TIN News

WELLINGTON THE FASTEST-GROWING REGION WITH THIRD CONSECUTIVE YEAR OF DOUBLE-DIGIT GROWTH, ACCORDING TO 2020 TIN REPORT 

COVID-19 has invariably impacted the regions differently and this is reflected in the variable growth rates across the regions 

A summary of Regional Data in the 2020 TIN Report is as follows:

Auckland/Northland


This year the TIN Regions have been adjusted to reflect NZ’s official regions, resulting in a single Auckland region that has been extended to include the two TIN200 companies headquartered in Northland.

More than 120 of the TIN200 companies, including four of the ten largest companies in the TIN200, six of the EY Ten to Watch, eight of the Absolute IT Supreme Scale-Ups and 15 of the Rising Stars are headquartered in Auckland and Northland– a testament to the strength and potential of tech in the region.  Auckland tech export companies grew revenue by 8.6% this year, collectively generating $7.2B in revenue, equating to 56.9% of total TIN200 revenue. The two TIN200 companies from Northland are both High-tech manufacturers, with 454 employees and a combined revenue of $83.4m. High-tech Manufacturing continues to perform well in the wider Auckland region, growing by 7.1% and achieving revenue of $4.59B. However, ICT companies are continuing to transform the landscape in this region, with ICT firms achieving a double-digit growth rate and generating 30.1% of the region’s revenue.

  • Revenue ($000): $7,237,708
  • Growth ($000/%): $574,854 or 8.6%
  • Job Creation (actual/%): 2,566 or 9.7%
  • Number of TIN 200 companies: 122
  • Three largest companies: Fisher & Paykel Healthcare, Fisher & Paykel Appliances, Douglas Pharmaceuticals

Waikato 

Home to 11 of the TIN200 companies, the region is dominated by Agritech firms, which generate 89.4% of revenue for the region. Collectively, the group grew by 4.6% to achieve revenue of $972.5m, contributing 7.7% of TIN200 revenue. Together, these companies employ over 3,300 people globally with an average wage of $94,170 per year – the highest average wage paid in any region. 

  • Revenue ($000): $972,493 
  • Growth ($000/%): $42,712 or 4.6% 
  • Job Creation(actual/%): 65 or 2.0% 
  • Number of TIN 200 companies: 11 
  • Three largest companies: Gallagher Group, Livestock Improvement Corporation, NDA Group 

Central North Island 

This is the smallest of the TIN regions, by revenue, reaching from Bay of Plenty to Taranaki/Wanganui with nine TIN200 companies spread across it. Collectively, they generated $150.1m in revenue, up just 0.9% on last year and well below their 5-year CAGR of 6.6%. All but one of the companies in this region are High-tech Manufacturers, most are private companies, and they tend to be more established, with seven formed before 2000, and two each from the 1960s and 1970s.  

  • Revenue ($000): $150,141 
  • Growth ($000/%): $1,378 or 0.9%
  • Job Creation(actual/%): 0% 
  • Number of TIN 200 companies: 9 
  • Three largest companies: Future Products Group, Pultron Composites, Blue Lab 

    Manawatu/Wellington 

    The second-largest region by revenue and number of companies, was also the fastest growing region this year, growing by 10.6%, well ahead of the TIN average of 8.3%. The 29 companies in the region generated $3.0B in revenue, or 23.5% of TIN200 revenue. What makes the region unique is its incredibly strong ICT sector, making up 65.5% of TIN companies in the region and generating $2.7B, or 89.9%, of the revenue.   

    • Revenue ($000): $2,987,116 
    • Growth ($000/%): $287,187 or 10.6% 
    • Job Creation(actual/%): 1,188 or 8.9% 
    • Number of TIN 200 companies: 29 
    • Three largest companies: Datacom Group, Xero, Weta Digital 

        Canterbury/Upper South Island 

        Following a strong performance from its ICT firms, the region grew by 9.4%, or $78.6m. Home to 21 TIN200 companies that collectively generated $915.5m, this makes it the second largest region by number of companies and narrowly third, based on revenue. ICT firms are transforming the region, accounting for 61.4% ($48.2m) of the total growth in the region ($78.6m). High-tech Manufacturing firms also play a major role in contributing to the region’s success, generating 69.9% of the revenue in the region, or $639.7m. 

        • Revenue ($000): $915,528 
        • Growth ($000/%): $78,635 or 9.4% 
        • Job Creation(actual/%): 65 or 1.8% 
        • Number of TIN 200 companies: 21 
        • Three largest companies: Tait Communications, Seequent, Moffat Group 

              Otago/Southland 

              Eight TIN200 companies are headquartered in the region, and in 2020 it was the only region to contract, by a little over 2%. This contraction is almost exclusively down to the performance of one of the largest companies in the region, which reportedly sustained overnight losses as a result of the COVID-19 lockdown. It doesn’t represent the underlying strength and potential of the region, which is evident when looking at its 5-year CAGR of 19.8%, the highest of any region. Collectively, the region’s TIN200 companies contributed $448m to the economy and employed close to 4,000 people.   

              • Revenue ($000): $448,282 
              • Growth ($000/%):$12,135 or -2.6% 
              • Job Creation(actual/%): 206 or 5.6% 
              • Number of TIN 200 companies: 8 
              • Three largest companies: Scott Technologies, Magic Memories, ADInstruments 
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                    For more information please contact:

                    Media Enquiries: 
                    Kate Dobbin 
                    Mob. +64 21 522 103 
                    kate.dobbin@tinetwork.com 

                    Greg Shanahan, Managing Director, Technology Investment Network 
                    Ph. +64 9 445 0362   
                    Mob. +64 27 435 6045 
                    greg.shanahan@tinetwork.com 

                    About the TIN Report  (tin100.com)
                    The TIN Report is produced by Technology Investment Network with sponsorship from New Zealand Trade and Enterprise, Absolute IT, BNZ, EY, James & Wells and NZX. The TIN Report is a critical reference for benchmarking the performance of New Zealand’s 200 largest globally focused technology companies. The size of the tech industry has grown significantly since 2005 and in recognition of this, TIN sent surveys to approximately 1,000 companies in 2020.

                    About Technology Investment Network 
                    Technology Investment Network (TIN) is a private company established in 1999 to facilitate the growth of the technology export sector in New Zealand. The company’s goal is to contribute to the New Zealand economy by supporting the growth of, large, sustainable, New Zealand based, global technology businesses. For more information, visit www.tin100.com