Funding approved for state-of-the-art £18.5 million innovation centre for Luton
11/11/2005
A multi-million pound funding agreement for the new state-of-the-art Innovation and Business Base (IBB) at Butterfield Business and Technology Park, Luton, has been signed this week.
A multi-million pound funding agreement for the new state-of-the-art Innovation and Business Base (IBB) at Butterfield Business and Technology Park, Luton, has been signed this week.
The East of England Development Agency (EEDA) and Office of the Deputy Prime Minister (ODPM) has approved a £14 million funding package for the project, which will see a highly innovative new centre built just off the A505 dual carriageway at Luton, on the site of the new 85-acre Butterfield Business and Technology Park.
This week EEDA and Luton Borough Council signed the formal funding agreement, effectively handing the funding and the scheme over to the council, which will own the new centre.
The Innovation and Business Base will provide first class accommodation for start-up companies in the high-tech sector. Its outstanding architectural design incorporates a number of exciting energy saving features and will provide a stimulus for creative ideas. It has been produced by renowned architects Hopkins, which won an international competition to design the centre, beating stiff competition from the likes of Aukett Ltd and Sheppard Robson.
New companies based at the centre will benefit from the state-of-the-art surroundings as well as specialist help and support to ensure their new ventures are a success. As businesses grow past the start-up phase they will be encouraged to move into other accommodation at Butterfield.
Yasmin Shariff, EEDA Board member and design champion, said: "This centre aims to lift the aspirations of those who work and visit Luton as well as to nurture a more creative working environment.
"We have worked hard to get an exemplary design. It is the first project that EEDA has commissioned through a design competition in partnership with Luton Borough Council. It is a great privilege to work with such an innovative and creative firm like Hopkins Architects. The design incorporates many passive energy and energy saving features and will be a best practice exemplar and raise design standards in this Region.
"We believe the new centre will act as a catalyst for boosting Luton's economy. It will create jobs and will provide a strong focus for Luton's diversification towards a high skilled, knowledge based economy that can support high-tech businesses."
Contractors Marriott Construction Ltd has recently been appointed and an operator for the site is due to be appointed by the council in the next few weeks.
Colin Chick, director of environment and regeneration at Luton Borough Council, said: "Starting construction of the IBB at Butterfield marks the first sign of a project which has risen from the ashes of the Vauxhall car plant. Providing 100 supported units and creating 450 jobs, it will focus on start up and new technology businesses to both widen and strengthen employment opportunities in Luton. We have worked hard with our partners including EEDA, Government Office and DTi to secure the funding for this prestigious building set in parkland designed by internationally acclaimed architects Hopkins."
The centre will cost a total of £18.5 million to build and the remaining £4.5 million is being provided by the Government Office for the East of England (GO-East) which has obtained the money from a European funding stream called the Regional Development Fund.
"This is exactly the kind of project that will benefit the East of England," said David Morrall, director Europe at GO-East. "Butterfield Business and Technology Park will provide an excellent facility for new and existing businesses to grow and prosper leading to the creation of many high quality jobs in the area."
Early infrastructure work to build Butterfield Business and Technology Park has already got underway. Easter Group is set to create one million sq ft of low-density office space for Research and Development, technology, offices and corporate headquarters.
Mike Forster, development director at Easter Group, said: "Butterfield will be a major business location. Businesses will benefit from rapid access to the M1 and A1(M) as well as a high quality working environment both internally and externally due to the innovative and sustainable approach taken to the design of Butterfield's buildings and landscaping."
Plans for the innovation and business base were developed as a result of the closure of the Vauxhall plant in the town and the loss of 1,900 jobs. It was felt something needed to be done to provide a new 21st Century source of employment for Luton. EEDA has been a key player in driving forward this major scheme. The centre and Butterfield will help brighten Luton's prospects by helping it to further establish itself as a prime location for modern high-tech businesses.
Source: EEDA
