Levelling up money to be spent on land for tech pioneers
Torbay’s long-awaited ‘fish and chips’ project to boost the bay’s high-technology industry is about to take a major step forwards.
Members of Torbay council’s cabinet will meet next week to agree the next stage of the plan which could deliver hundreds of new jobs and reinforce the bay’s position at the cutting edge of British fibre-optic and electronic innovation.
Last November, the Conservative government pledged £20 million of ‘levelling up’ money to the bay at the third time of asking. The cash will be spent on improvements to the fish quay at Brixham - the ‘fish’ section of the bid - and on creating a new ‘innovation zone’ at Paignton - the ‘chips’.
Paignton has been at the forefront of new telecommunications technology since the STC factory was built off Long Road in the 1950s - a tradition continued in the same location by ITT, AVX, Bookham, Nortel and other major companies.
The Long Road area is now home to South Devon College and the EPIC Centre. The latter is a pioneering base for start-up firms in the electronics and photonics sector.
The centre is currently full, with a number of its tenants looking to expand into the new ‘innovation zone’ - to be called the Torbay Tech Park - when space becomes available.
The cabinet is expected to rubber-stamp the purchase of the land needed to get the project started.
A report to the meeting says: “This is a fast-growing sector that has the potential to transform Torbay’s economy.
“The sector creates high value jobs. Some of our businesses are tackling global challenges and their values align to those of our young people.
“Not only can this sector create well paid jobs and careers, it can help encourage our young people to continue to work and live in the bay.”