Newtown, Wales A technology park, capable of sustaining over 230 jobs and investment opportunities in Ceredigion, has received the approval of Welsh Assembly Government and European Objective 1 funding.
The Welsh Development Agency's Parc Aberporth near Cardigan will provide a strategic location for high-tech businesses on a site alongside the West Wales Airport and adjacent to the Ministry of Defence's Aberporth Range facility.
Split into two phases on the site of the former Ministry of Defence airfield, the first development will involve the construction of three high specification units totalling 2150sq metres of floorspace and capable of accommodating over 130 jobs.
Over £1.6 million of Objective 1 funding has been approved for the project along with £2.7 million of funding from the Welsh Assembly's Pathways to Prosperity fund.
Plans for the second phase of the Park, which will include five high-tech units with up to 90 jobs, have been given outline planning approval and an application for European Objective 1 funding is pending.
Additional private sector investment at the site could lead to further employment opportunities. The WDA is already in discussions with several companies interested in expanding to the Technology Park. The first phase development will be completed by the summer of 2004. Contractors will begin infrastructure works at the site, including the demolition of redundant buildings, later this month.