Glasgow, Scotland--A new £89 million ($143 million) Technology and Innovation Centre is to be built at the University of Strathclyde. The center will be the centerpiece of an International Technology Renewable Energy Zone (ITREZ) being established in Glasgow.
Spearheaded by economic development agency, Scottish Enterprise, The ITREZ initiative, is expected to create 700 new jobs and a £100 million ($160 million) boost to the Scottish economy through further industry academia collaboration and inward investment.
The new Technology and Innovation center will bring together academics, researchers and project managers from the university and its industrial partners to work on advances in photonics and sensors, power and energy, advanced engineering, pharmaceutical manufacturing and bio nano systems.
Announcing the new center last week, Scotland's First Minister Alex Salmond said that the Technology and Innovation Center is a transformational project for Glasgow, creating and supporting hundreds of jobs, with the aim of doubling the scale of research program investment in Scotland by up to £150 million ($240 million) in five years in areas key to economic growth.
"And now, as an integral part of Scottish Enterprise's new International Technology and Renewable Energy Zone, which aims to establish Glasgow as a premier location for inward investment into world-leading technology and renewables research and development, we have the potential to deliver huge economic and social benefits, not only in Scotland but internationally," Salmond said.
Source: Scottish Enterprise