GREATER LINCOLNSHIRE GROWTH DEAL

1. GREATER LINCOLNSHIRE GROWTH DEAL Project Summary The Boole Technology Centre is a new 3,000m2 development that will complete the first phase of the Lincoln Science and Innovation Park, which is a joint venture between the Lincolnshire Co-operative and the University of Lincoln. Both partners will provide a further £3.75 million of private sector investment to complete the project that will be developed on a 1.5 acre brownfield site , starting in May 2015. The need for a facility of this type in Lincolnshire has been highlighted by national studies, as well as direct discussions with major technology firms operating in the county. The new Technology Centre has been designed to provide a combination of laboratory, workshop, office technical equipment and shared working space, that will be specifically targeted towards advanced engineering and manufacturing businesses. It is estimated that Technology Centre will house between 95 and 140 highly-skilled employees when fully occupied. The services provided will also help to create growth in those firms and the wider supply chain. Initial analysis of the investment indicates that this type of capital investment will generate a minimum of £38 million of additional investment within the local economy over the next 6 years. The project will also build on the growing reputation of the University of Lincoln in attracting investment to the area and nurturing the growth of new enterprises in the County. By linking the space and support packages provided to existing supply chains, it is expected that the development of the Boole Technology Centre will also attract new developers and businesses to the Science and Innovation Park, with a further 83 hectares of land available to accommodate future phased expansion of the site. Ursula Lidbetter, Chair of the Greater Lincolnshire LEP said; “This project will provide an exciting environment where new and existing businesses can come together to share and benefit from leading commercial research, industrial enterprise and academic expertise . Bringing this level of support together in one place will anchor our area’s growing reputation as a world class place to do business. It will provide a major boost for the local economy by encouraging entrepreneurship, driving up levels of innovation, creating skilled jobs and improving the competitiveness of our local firms, nationally and internationally”. Andrew Stevenson, Director of Research and Enterprise at the University of Lincoln, said: "The announcement of funding for the Boole Technology Centre is fantastic news. Working in partnership with the Lincolnshire Co-op, it is a further example of how we work with industry to deliver the research, innovation and skilled graduates that are well prepared for the world of work. Lincoln Science & Innovation Park will create a community where the organic exchange of ideas, skills and funding between businesses and academia will bring mutual benefits. The University of Lincoln has an established reputation for developing industry relevant research which drives growth and the Boole Technology Centre will play a significant part in attracting technology-led businesses to the area.” Contacts for further information: Thomas Blount, Director, Lincoln Science and Innovation Park Ltd Email: tblount@lincoln.ac.uk Tel: 07740 410229 Greater Lincolnshire LEP Email: GLLEPsecretariat@lincolnshire.gov.uk Tel: 01522 550540