Council controlled organisations

NPDC created the Perpetual Investment Fund (PIF) and Taranaki Investment Management Limited (TIML) in 2004 with the $259.4 million proceeds from the sale of its shareholding in Powerco. 

TIML was a Council–controlled Organisation, and changed its name to New Plymouth PIF Guardians Limited (NPG) in 2017 when NPDC resolved to change the organisational structure for the management of the Perpetual Investment Fund (PIF) and move to a full outsourced model. The board of NPG appointed Mercer New Zealand (Mercer) to manage the PIF.

In the 2024/2025 financial year, overall rates were subsidised by $11.8 million from the PIF fund, through dividend payments.

As of 30 June 2025, the fund sat at $404 million.

NPDC has two joint venture forestry developments that have varying levels of NPDC ownership (55 to 57 per cent) and are therefore deemed to be Council-Controlled Organisations (CCOs). 

In the agreements, the landowner provides land and property related inputs and NPDC provide management and tending programmes for the crop. Both parties share the returns from the forest harvest on an agreed ratio of respective inputs. 

The joint ventures are:

• McKay Family joint venture (56.5% ) 83.5ha
• Duthie joint venture (54.82%) 22.7ha
• Tarata Ngatimaru Pukehou joint venture (60%) 6.8ha ceased 31 October 2018.

New Plymouth Airport was a 50:50 joint venture between the Crown and NPDC, until NPDC became the sole owner in 2017. 

The same year, NPDC established a company, Papa Rererangi i Puketapu Ltd. (PRIP), to manage the airport as a commercial enterprise under a governance team of four independent directors.  NPDC is the sole shareholder.

NPDC holds the aerodrome operator’s certificate, which includes the provision, maintenance and operation of the land and facilities, including the runways and the terminal buildings, but excludes the control tower and navigational aids, which are provided, maintained and operated by the Airways Corporation of New Zealand.

New Plymouth Airport website

Venture Taranaki Trust is the region's development agency. 

Made up of integrated teams working in economic development, marketing and events, film and tourism.

Venture Taranaki are leading the charge with the Taranaki 2050 Roadmap, which has been co-designed by the region for the region. It considers not just how our economy will change, but all aspects of our lives, and provides the opportunity to plan for inclusive growth.

Venture Taranaki website

Wai Hononga Water Services Limited is a council-controlled organisation established by New Plymouth District Council to deliver drinking water and wastewater services to the district. NPDC is the sole shareholder.

Wai Hononga is being established to manage New Plymouth's water and wastewater infrastructure, comprising more than $677 million of assets serving approximately 32,000 households and businesses across the district. Governed by an independent board of directors, the organisation will assume responsibility for water service delivery from 1 July 2027.

Its purpose is to sustainably manage, protect and deliver water services for the people of New Plymouth District. Through the operation, maintenance and long-term stewardship of essential water infrastructure, Wai Hononga is committed to providing safe and reliable services while helping protect the health of our waterways and coastal environments for generations to come.