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McGuinness welcomes £12million funding for North West Science Park

30 November, 2012


The deputy First Minister Martin McGuinness MP MLA today, welcomed the £12million funding announcement, by the European Union’s INTERREG IVA Programme, to establish a North West Regional Science Park.

This project will involve the construction of a 50,000 sq ft Science Park facility at Fort George, in Derry, and a 20,000 sq ft extension to the Co-Lab facility at Letterkenny Institute of Technology.

The Science Park aims to stimulate the establishment and development of high-quality technology and knowledge based businesses in the North West region, assisting in the expansion of knowledge based indigenous business and attracting higher value-added inward investment projects and jobs to the regions.

Speaking at the official launch of the North West Regional Science Park Project the deputy First Minister Martin McGuinness MP MLA said:

“The economic development of the North West has been given a huge boost today as the £12million North West Regional Science Park is launched. The Science Park will be the first building on the Fort George site and it is a key element of the One Plan, the regeneration plan for Derry.

“As part of its wider commitment to Derry, and the North West region, the Executive has committed over £700million in infrastructure. This investment in road, rail, education and health infrastructure is vital if we are to see the City and the region developed and regenerated.

“The Science Park has the potential to create up to 285 high-value jobs, establish the region as a smart economy and attract inward investment which will bring significant disposable income to the region. It will assist local businesses and aid economic growth in these challenging times. Its focus on knowledge based entrepreneurs, investors, business professionals and global corporations will provide a strong community, closely linking the worlds of research, business, finance and the public sector.”

The Minister went on to thank the project partners and said:

“The success of this project to date can be credited to the co-operation and partnership working of the local stakeholders, who have worked tirelessly to bring this park to fruition. This is an example of what can be done when organisations and agencies work together to benefit our local economy and people.”

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