Work has begun on a £1m business centre which is set to create 60 jobs in Leamington Spa.
Althorpe Innovation and Enterprise Centre (AIEC) has received £959,000 funding from regional development agency Advantage West Midlands and will provide space for up to 40 businesses in Leamington Spa Old Town.
The Althorpe Street centre will become a business support hub for new and established companies in south Warwickshire, providing a range of support services.
The AIEC is being built on a derelict brownfield site in Leamington Old Town - a target for new inward investment and community regeneration.
It will integrate regeneration, cluster and high technology mechanisms to revive and transform the Old Town industrial area of Leamington Spa from one of latent traditional industries and employment into an entrepreneurial environment which encourages and supports new innovative business.
The Centre will provide new flexible workspace, attract inward investment and introduce new technologies to enable the transfer of knowledge.
The site straddles Althorpe Street and Court Street, and will complement the recent private sector developments such as the new GP practice, pharmacy, and Health Trust offices in Court Street.
The project falls within the High Technology Corridor for Coventry, Solihull and Warwickshire, one of AWM’s target areas for economic development.
Advantage West Midlands Partnerships Manager for Coventry and Warwickshire Kim Rowlands said Althorpe Innovation and Enterprise Centre would create an entrepreneurial environment and provide jobs.
“It’s an exciting development that will support new innovative business, provide new flexible workspace, attract inward investment and introduce new technologies.
“The project will have the important objective of building up the potential and capacity of those who work and live in the area to meet the demands of new business sectors such as the IT and Creative Industry cluster.”
“Advantage West Midlands is delighted to be working with Warwick District Council to bring new jobs and improve the quality of life of people in Leamington by regenerating the Old Town.”