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Council to study Tamaki innovation centre plans

AUCKLAND CITY COUNCIL

MEDIA RELEASE


2 November 2006

Council to study Tamaki innovation centre plans

Auckland City will investigate a proposal to form a joint venture partnership with the University of Auckland and central government for a technology research park on sites owned by the council and the university’s Tamaki campus.

The Auckland Innovation Centre (AIC) would be a hub for high-tech industries to locate research activities close to the campus, which specialises in research-based post-graduate education.

The joint venture company would build, own and manage the AIC facility. Capital funding for buildings will be sought from central government.

The purpose-built facility would allow businesses – from high-tech start-ups to research units of international companies – to locate alongside each other at the university, gaining from the clustering benefits of proximity, knowledge transfer and collaboration.

“It would also provide a one-stop service centre for government agencies such as New Zealand Trade and Enterprise and Crown Research Institutes,” said Councillor Richard Northey, chairperson of the Economic Development and Sustainable Business Committee.

“The centre could advance the council’s aspiration for a smart and sustainable economy, increasing both Auckland’s and New Zealand’s income from knowledge based exports of high-value products developed in Tamaki which council is working hard to revitalise.”

The council land, adjoining Purchas Hill, and the university site, covers 10ha and if the proposal were to proceed could be leased back to the joint venture for 25 years.

The university is negotiating with government over funding which is critical to the project as currently proposed.

A feasibility study and risk analysis of the project including financial analysis and governance will be reported back to the committee in March next year before the council makes a final decision on the proposal.

Ends


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