The new cross border science park currently under construction at Fort George in Derry will generate £4 million a year for the local economy and support 285 jobs.
Members of Derry City Council’s development committee were briefed on the progress of the £13 million science park at their monthly meeting in the Guildhall on Tuesday.
Sarah Kelly, business development manager of the North West Regional Science Park, said the facility, which will be completed next summer, will help regenerate Derry’s economy.
“There are lots of ideas and a lot of action happening in this city and the Science Park will hopefully help all of those companies and attract others. It is ideally placed next to the Project Kelvin ‘telehouse’ which is important because the large companies are looking for that connectivity,” she said.
Ms Kelly also said the Science Park would help small start up firms on both sides of the border. “The smaller companies are helped to grow and the bigger companies want to locate where there are lots of educated young people,” she added.
Chair of the development committee, Sinn Féin councillor Elisha McLaughlin, said the cross border Science Park would help establish Derry’s reputation as “a city of business from 2014 on.”
SDLP colr. Brenda Stevenson said it was “excellent news for the city” and provided hope for future generations.