Development West Coast
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Heath Milne in 2020 | |
| Industry | Economic Development Agency |
|---|---|
| Founded | 2001 |
| Headquarters | Greymouth, New Zealand |
Key people | Heath Milne (Chief Executive), Sam MacDonald (Chair) |
| Revenue | 7,394,803 New Zealand dollar (2025) |
| Total assets | 151,801,932 New Zealand dollar (2025) |
Number of employees | 19 (2025) |
| Website | dwc |
Development West Coast (DWC) is a charitable trust that operates in the West Coast Region of New Zealand. DWC is the economic development agency and regional tourism organisation for the region.
Development West Coast (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.[1] 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..[1]
Finances
In the 2015–2016 financial year, Development West Coast approved 20 loans worth a total of $14.4 million; in 2016–2017 it loaned $12.3 million to 18 businesses. It returned a profit of $5.3 million, after running a deficit in 2015. It had 11.5 staff positions and the Chief Executive was Chris Mackenzie, on a salary of $223,000.[2]
In 2021, in its 20th year, DWC's fund had grown from $92 million to $146 million. In 2019 it approved 80% of loan applications received, distributing $2.2 million, and gave $1.9 million to community projects.[3] In the year ending March 2021, it issued $6.7 million in loans, distributed $3.5 million to the community, and made a $14.2 million net profit.[4] It had 20 full-time staff under Chief Executive Heath Milne.[4]
By March 2025, DWC had directly invested $208.2m into the West Coast economy since 2001 while maintaining the fund’s value at $149m.[5]
