The new North West Regional Science Park in Derry. Photo: Lorcan Doherty Photography
THE North West Regional Science Park intends to build two new office buildings in Derry the next 10 years as part of a major expansion plan.
The organisation, which is changing its name to Catalyst Inc, is also aiming to support 5,000 additional jobs.
It was founded in 1999 with public money.
It now operates as a non-profit foundation aimed at growing technology businesses.
Catalyst Inc operates from nine sites across Derry, Donegal and Belfast.
It plans to submit planning applications for three new buildings and develop 1 million sq ft of office space in the next six months.
Its tenants include international firms like Citi and Dow as well as locally-owned businesses employing a total of 2,600 people.
Norman Apsley, chief executive of Catalyst Inc, said: “The time was right to accelerate the generation and exploitation of knowledge.”
“Everyone talks about the need to grow the economy and drive our expertise and skills in technology as it is applied to every business sector.
“What we have done at Catalyst Inc is to provide the right environment for that ambition to take hold and to prosper.”
The news has been welcomed by SDLP Foyle MP Mark Durkan.
He said: “It is good that the organisation is now in a position to follow up on earlier investment – and that that investment shows a belief in the entrepreneurial capacity in the North West.
“The Science Park at Fort George is a key regional project which matters not just to Derry but the whole North West.
“This expansion will help bring business in, but also provide a platform for growth for our own businesses here.
“It is a great opportunity which puts us in a different place if we can make the most of it.”
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