Knowledge Park to get fourth building
By SHAWN BERRY
berry.shawn@dailygleaner.com
A new building will be announced for Fredericton's Knowledge Park today.
Partners including the federal and provincial governments will announce more than $6 million in support for the facility.
Besides providing additional office space to technology companies, the fourth building will be home to the Centre of Excellence in Advanced Learning Technology.
The organization will play a special role in connecting local researchers and knowledge-based companies with partners who can help commercialize the technology.
The three-storey, 45,000-square-foot building is to be built on land on Knowledge Park Drive, alongside the park's three buildings.
The park focuses on meeting the needs of growing technology companies by serving as a base for clusters of companies in information technology, biotechnology, forestry, health care and advanced learning sectors.
"This will support both the knowledge and the research and development sectors," said Business New Brunswick Minister Greg Byrne, who will be on hand for the announcement today.
"We're trying to develop Fredericton as a focal point for advanced learning and technologies."
He said that's thanks in large part to the strengths of two major partners - the University of New Brunswick and the National Research Council Institute for Information Technology.
"We believe this is an opportunity to leverage even more growth in that sector," Byrne said.
The province is loaning Knowledge Park $4.5 million for the construction of the building.
Other partners are providing additional funding for the centre of excellence through 2015.
Byrne said some tenants are lined up for the building.
Knowledge Park's board of directors unveiled long-term plans last year to increase the number of buildings from three to 17.
Existing park buildings are at capacity and at least one firm built its office building last year because it couldn't secure space in the park.
Enterprise Fredericton will also announce the establishment of a business accelerator centre at 30 Knowledge Park Dr. that will support 10 to 15 companies working towards commercialization.