Investing in Far North communities and businesses
Far North District Council (FNDC) established Far North Holdings Limited (FNHL) to act as a vehicle for delivery of the Council’s commercial activities.
FNDC is our only shareholder and we report to the Council quarterly at meetings which ratepayers are free to attend.
We are governed by an independent, professionally-appointed Board. Our goals and objectives are captured in our Statement of Intent. This is reviewed and agreed annually with FNDC.
For more than a decade 100 percent of FNHL’s trading surplus has either been distributed to the Far North District Council or reinvested in property and infrastructure within the Far North District. FNDC estimates that without this income, general rates would have been about four percent higher each year.
Our efforts have:
- encouraged commercial investment and development right across the district, on both coasts
- encouraged over 460 overseas cruising yachts a year to enter NZ through the Bay of Islands
- boosted the marine services industry in the Bay of Islands
- supported the creation of over 60 new businesses in Opua alone
- secured the visits of 50 cruise ships annually to the Bay of Islands, carrying 70,000 passengers
- helped Air New Zealand boost its daily services into and out of Bay of Islands Airport
- secured recreational maritime facilities across the district
- raised environmental standards right across the NZ marina industry