The Waikato Innovation Park aims to be a primary driver in positioning Hamilton and the Waikato as a globally competitive region, and as a preeminent centre in New Zealand for life science and high-technology industries, as well as knowledge-based economic development. The Waikato region accounts for 8 percent of the New Zealand economy but it has been losing out to other parts of the country. This paper seeks to assess whether establishment and successful management of an innovation park will significantly increase the rate of economic activity in life science and hightechnology industries in the Waikato region. The analysis uses project plans and cost data along with an economic model of the region constructed from data originating with Statistics New Zealand. The regional economy has been categorised into 87 sectors which capture all economic activity along with imports into and exports out of the region. The model provides detailed information on the structure of the regional economy and the regional impact of the Waikato Innovation Park in terms of both input-output and net present value analysis.