A three-day Te Rarawa summit hui beginning in Kaitaia tomorrow will explore investment opportunities now a deal has been struck with the Crown to settle historical Treaty claims.
The tribe's deed of settlement package has a total value of $65-$70 million, including $33.8 million in cash.
Directors of the Te Rarawa asset holding company, Te Waka Pupuri Putea, will provide advice for the iwi as it considers key priorities for development.
One of the priorities will be building a "Te Rarawa economy", to create jobs and iwi, hapu and whanau-based business development. Te Waka Pupuri Putea is also to secure resources to protect it for the future. The money Te Rarawa will initially receive as part of their settlement will be held in secure short-term deposits to allow time for a thorough development of investment options and business cases.
"It's important these resources are parked up in a safe way while we go through this planning process," said Deloitte's partner and Te Waka Pupuri Putea director Leon Wijohn.
As Te Rarawa has a substantial land base with established farming communities and businesses, runanga chairman Haami Piripi suggested investing in agriculture, horticulture and silviculture.
"This doesn't mean the investment only sits at a local level. These primary industries are interconnected with a number of support industries and other high-end niche marketing opportunities, some of them worldwide," he said.
"We need to explore other opportunities in the supply chain to markets which may involve joint venture agreements with other iwi or business partners."
Mr Piripi said the addition of the ultrafast broadband network, which Te Rarawa had already invested in, would enable the iwi to amplify its current investments in primary productions, as well as potentially creating opportunities in ecotourism, data management and remote customer service centres.