A major industrial land development in Christchurch has been granted fast track approval, with the Government saying it will unlock growth and create jobs in the region.

The Pound Road project, led by Ngāi Tahu Property through its development arm, will see land subdivided into industrial lots across a 60.4 hectare site in the city’s northwest.

Infrastructure Minister Chris Bishop said the development would support business expansion across the city.

“Pound Road involves subdividing land and developing industrial lots on a 60.4-hectare site northwest of Pound Road and east of Barters Road, Christchurch,” Bishop said.

“The project will deliver industrial lots ranging from about 2,000 square metres to 1.5 hectares, with around 50 lots in the first stage and 84 lots across the full site.”

Regional Development Minister Shane Jones said the project would deliver a major economic boost.

“Projects like these unlock economy growth and jobs for the communities,” Jones said.

“During construction it is expected to contribute $451 million to the economy and once fully developed the businesses occupying the site will generate hundreds of millions more.

“I am pleased to see Fast track working as intended and giving regions the confidence to drive long term economic growth.”

The project is the 20th to receive approval under the Government’s fast track process and the seventh in the South Island.

Bishop said the development would create opportunities for both new and existing businesses.

“This will provide Christchurch with opportunities for new businesses and for the current 48,000 businesses in Christchurch to grow or expand,” he said.

The approval includes consents under the Resource Management Act 1991 and the Wildlife Act 1953, subject to conditions.

The development is expected to support light industrial activity including manufacturing, warehousing and logistics, with supporting infrastructure such as roads, landscaping and water services to be delivered as part of the project.