Bay of Plenty region was formed in 1989 after a nationwide review and shakeup of top-level local government in New Zealand. The new region incorporated the former counties of Tauranga, Rotorua, Whakatane and Opotiki. On 5 October 2011, the MV Rena ran aground on the Astrolabe Reef in the bay causing a large oil spill, described as New Zealand's worst ever environmental disaster. The region is subdivided into territorial authorities, which include the Western Bay of Plenty District, Tauranga City, Whakatane District, Kawerau District and Opotiki District, as well as parts of Rotorua District and the town of Rangitaiki in Taupo District. The
Bay of Plenty is emerging as a major regional source of electricity. Tourism is the other notable industry, accounting for 15% of the region's GDP from March 2000 to 2004. Overall economic growth in the Bay of Plenty averaged 2.1% between March 2000 and 2004, compared with the national rate of 3.5%, although per capita real GDP growth in the five years to March 2003 matched the national growth rate at an averaged 2.3%. In the 2006 Census, the median annual income was $22,600, below the national median of $24,400. Further, 45.4% of people aged 15 years or older earned an annual income