The first phase of the Menai Science Park in Wales will start next summer after Bangor University received £10m funding from the European Union.
Construction will begin on the park in Gaerwen, Anglesey in the summer of 2016 and the first businesses are expected to start trading in early 2018.
First Minister Carwyn Jones announced the funding today, which, along with £10m already awarded to the university project team from the Welsh government, means construction can begin on a state-of-the-art hub for low carbon and renewable energy businesses.
Jones added: “I am delighted to announce £10m EU Funds for this exciting new Menai Science Park. It will provide a dynamic and supportive environment for low carbon energy businesses in North West Wales, encouraging collaboration in the development of new products, processes and services.”
M-SParc aims to encourage collaboration between research organisations and link them to renewable energy projects. The park will also work closely with the Energy Island initiative and the Anglesey Enterprise Zone.
Economy Minister Edwina Hart added: “The Welsh Government is committed to supporting science and innovation, which is vital to creating economic growth and high-quality jobs. I am very pleased that all the funding is now in place to enable this exciting project to proceed.”
She added: “This new facility will contribute considerably to the local economy and lead to the creation of highly skilled jobs. “
Bangor University vice chancellor Professor John Hughes said: “Together with the expertise of Bangor University and our ambitious plans to further develop our strengths in science, we are in a strong position to make a big difference to the area.”
Image: Carwyn Jones AM (National Assembly of Wales)
