Taunton Deane Borough Council is pressing ahead with its commitment to invest in the local economy after agreeing to buy a business park in Taunton.
The council is to consolidate its holdings at Lisieux Way to help protect existing high tech jobs on the site, attracting new employers and to regenerate the key employment site.
The aim is to create a high tech business park, within easy reach of the town centre and road and rail connections, with high quality companies similar to those already on the site.
“The site is already home to two important hi-tech companies – South West Pathology Services and Novanta (GSI Exotec). We want to make sure we retain such high quality businesses in the town and to attract more,” said Cllr Mark Edwards, Deputy Leader and Executive member for business development.
“We will also look at other potential uses for the site with the help of specialists that will be able to advise us.
“Taunton Deane Borough Council is seizing an opportunity to acquire an important, strategic site that will generate an income, secure existing jobs and provide opportunities for new jobs. This will result in a sound return for our investment.
“Our council must also become more commercially-minded as we look to the future. We need to generate income to replace the central funding we will lose in order to protect the vital front-line services that our residents value.
The decision was agreed by the Full Council on Tuesday (October 3) – but some details of the deal remain confidential due to commercial sensitivities.
The land is being bought from Thales – the company moved out of Taunton some years ago – to make sure that the Borough can capitalise on the economic opportunities offered.
The council plans to refurbish some existing buildings on the site initially before embarking on a more ambitious regeneration.