Egmont National Park and New Plymouth's 172-year-old St Mary's Anglican cathedral are the major recipients in a multi-million dollar government funding handout to the Taranaki region.

Regional Economic Development Minister Shane Jones announced almost $20m government funding of various regional projects at the launch of the regional economic initiative Tapuae Roa - Make Way for Taranaki Action Plan in New Plymouth on Friday.

The money from the Provincial Growth Fund would be directed towards improving tourism attractions, Maori education, clean energy opportunities, rural highways, and entrepreneurial opportunities in the region, Jones said.

ANDY JACKSON/Fairfax NZ The Taranaki Cathedral restoration project will receive $5m to help rebuild.

​It would be used to diversify the local economy, create jobs and leverage off the strong base the region has established through its oil, gas and agricultural sectors, he said.

READ MORE:

* Taranaki Pouakai Crossing and tarns named one of best and most beautiful by Tourism New Zealand

* Cathedral rebuild team have faith $15m target will be met

The action plan identified 'four futures' in the energy, food, Māori economy and visitor sector.

Rob Needs/SUPPLIED Egmont National Park is to receive $13.4m to improve facilities.

The Taranaki region would contribute more than $16 million to the action plan.

Among the recipients of the government funding include a $5m contribution for the restoration of the Taranaki Cathedral, and $13.3m to improve visitor facilities and walking tracks on Egmont National Park.

Dean Peter Beck said the funding for the Taranaki Cathedral had given the $15m restoration project more certainty.

The Cathedral site attracted 75,000 visitors a year and contributed $7.3m to the local economy, he said.

Funding within Egmont National Park would be used to build a 41km track from Dawson Falls Lodge, and North Egmont to Oakura Beach, together with a network of short one day walks for visitors.

New Plymouth District Council Mayor Neil Holdom said the Tapuae Roa - Make Way for Taranaki action plan was "a bold, ambitious roadmap" for building economic strength in Taranaki.

The government's announcement is the first step towards projects that are game-changers for Taranaki and New Zealand, he said.

Tapuae Roa was a group effort developed in partnership between Taranaki's four councils, Taranaki iwi, business leaders, Venture Taranaki regional economic development agency, and central government.

"Tapuae Roa presents a comprehensive plan for our region's direction, building on existing industries and extending opportunities in new areas that will see the region continue to grow as both an economic and lifestyle destination," said Venture Taranaki Trust chair Robin Brockie.

The central government funding from the Provincial Growth Fund would enable the region to hit the ground running on some projects and explore the opportunities in other key strategic areas, he said.

Where the money is heading:

$13.34m - Taranaki Crossing Experience.

$5m - Taranaki Cathedral restoration and upgrades.

$400,000 - SH43 business case.

$250,000 - hill country tree planting business guide.

$210,000 - Tapuae Roa support

$175,000 - regional 'future food' opportunities.

$100,000 - new energy development centre business case

$100,000 - Māori enterprise and education (focus on science, technology, engineering, arts/design, mathematics, innovation, and digital).

$100,000 - 'innovation precincts' feasibility study.

$50,000 - H2 Taranaki.

$50,000 - Taranaki Future Foods Accelerator business case.