The first phase of a new high-tech electronics park in Paignton will create 175 new jobs for the town.
Torbay Council’s Cabinet has given its support to the first phase of a new Electronics & Photonics Production Park at Torbay Business Park, off Long Road.
It says the plan supports the council’s ambition for a thriving economy, and will generate £18m a year extra for the local economy when it is fully developed.
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The first phase – a purpose-built 2,000-square-metre factory for established local firm EFFECT Photonics – would also unlock a large area of land, enabling more manufacturing space to be developed afterwards.
That could create 100 more well-paid jobs.
The move builds on the success of the existing Electronics and Photonics Innovation Centre.
Delivery of the production park depends on a recent application to the Government’s Levelling Up Fund.
A bid was submitted in June for £20m from the fund to accelerate economic growth locally. The council would acquire the land and build the first unit for EFFECT to lease.
Council Cabinet member Swithin Long said: “This project represents another step in our ambition to show that Torbay can be a natural home for high-tech industries.
“The park will provide specialist production facilities, deepening innovation, enabling the growth of key businesses in the sector and attracting further inward investment.
“This will be a great boost to our local economy and see the creation of new skilled, high-value jobs.”
The outcome of the Levelling Up Fund application is expected in the autumn.
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