Sharechat Logo

Waikato targets biotech

By Duncan Bridgeman

Friday 21st March 2003

Text too small?
Waikato is looking to emulate the success of the Dunedin biotechnology industry with the development of a new $180 million Innovation Park near Hamilton.

After more than a decade of debate, initial funding is complete and Prime Minister Helen Clark will turn the first sod of construction next Thursday.

The park plans to bring high-tech businesses together on 20ha of Tainui land between Waikato University and the Ruakura Crown Research Institute.

Innovation Waikato chief executive John Birch updated members of Waikato's new ag-biotech cluster on Monday night, emphasising the importance of boosting the region's growth in technology business.

The region already had an impressive base of world-leading agritech businesses and with many of the country's leading scientists in the area, the opportunities were too great to ignore, he said.

The park has secured $7 million of seed funding with $2 million each from Industry New Zealand, Hamilton City Council and Wel Energy Trust.

A lease agreement with Tainui was finalised last year and Mr Birch said the park had secured 80% of the required tenants. The park will be split into 20 sections, with a core facility comprising of 3500sq m of tenantable space and 500sq m for the establishment of a technology commercialisation facility and incubator.

Tainui will lease about a quarter of the overall land space for farming. The core facility has been designed to expand to tenants requirements and will be coloured black, with patches of green and bright orange.

Bond Offer: Infratil Ltd, 7.2 year & 10.2 year unsecured unsubordinated bond


  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

NZ dollar sags after avalanche of data and central bank action
Fonterra board starts planning chair succession
Fulton Hogan keeps Australian civil construction unit
Time for congestion pricing has come - NZIER
Colliers defends KiwiBuild as 'far from a colossal failure'
Pushpay shares rise as cost-cutting upgrades earnings guidance
20th September 2019 Morning Report
NZ dollar weaker against British pound on EC president's Brexit optimism
Todd plans Kapuni drilling campaign
MARKET CLOSE: NZ shares gain; appetite for KFC helps Restaurant Brands hit record

IRG See IRG research reports