The new business park will also create up to 750 jobs at Aerohub @ Newquay Cornwall Airport.
The funding for the first phase of the business park at the enterprise zone site includes a £2.3m investment from the Homes and Communities Agency (HCA) and a grant from the European Regional Development Fund Convergence programme of £3.93m, with Cornwall Council providing the land.
The construction programme will start in early October and see completion of phase 1 in June 2015.
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The 53.5 acre business park site will form part of the Aerohub Enterprise Zone and will have space for more than 30,000 sq ft of buildings. Phase one will ensure the park is investor ready, delivering site services including road access, electricity, water and broadband. The HCA funding also includes a £150,000 contribution to the 'Rialton Link' road, adding to the improvement of local infrastructure.
Ian Knight, Head of Area for the HCA, said: "This is great news for Cornwall. It is an important investment for us because it helps to unlock development on the enterprise zone and act as a spur for further investment and jobs growth. We look forward to working with the local partners and using our skills in investment and regeneration to developing a thriving business park. We believe this project will add significant value to the Cornish economy."
(CD/IT)
