Torbay’s ambitions to become one of the South West’s leading centres for high-tech innovation have taken a significant step forward after the council acquired a business unit that will form the first phase of the proposed Torbay Technology Park.
The purchase of a unit at Westfield Business Park will provide much-needed space for the area’s growing electronics and photonics sector, helping successful businesses expand while creating room for the next generation of start-ups.
Backed by £20 million from the Government’s Local Regeneration Fund (previously Levelling Up funding), the wider project is designed to strengthen Torbay’s reputation as a hub for advanced manufacturing, electronics and photonics, creating skilled jobs and attracting new investment to the area.
The refurbished building will deliver 1,765 square metres of modern business accommodation, including four independent units and two specialist laboratory spaces. It is expected to support the creation of around 100 high-value jobs and generate an estimated £10 million in additional economic value for Torbay each year.
The additional space will allow businesses currently based at the Electronics and Photonics Innovation Centre (EPIC), which has reached full capacity, to relocate and expand. Their move will free up space at EPIC for emerging high-growth companies looking to establish themselves in Torbay.
Councillor Chris Lewis, Deputy Leader of Torbay Council and Cabinet Member for Place Development and Economic Growth, said the acquisition represents “the first step” towards creating a dedicated Technology Park for the Bay.
He said: “The acquisition of this unit will provide much-needed space to support Torbay’s growing high-tech sector, building on the success of EPIC and helping existing businesses to stay, innovate and succeed here in the Bay.
“It represents the first step towards our longer-term vision of establishing a Torbay Technology Park, accelerating local economic growth and helping to attract further investment.”
The council says the long-term vision is to develop a Technology Park that builds on Torbay’s established expertise in electronics and photonics, sectors which have been part of the local economy for more than 70 years.
Chris Wardle, Chair of Torbay’s Hi-Tech Cluster, welcomed the investment, describing it as an important milestone for the area’s technology sector.
He said: “Torbay Technology Park will allow further growth of Torbay’s high-tech businesses and nationally renowned Hi-Tech Cluster and will provide further opportunities for investment into the area. Our technology businesses work at the forefront of the UK’s Modern Industrial Strategy and bring high-value jobs to the area.”
Refurbishment work on the building is expected to begin shortly, with the completed facility becoming the first phase of the council’s wider Technology Park vision.
The project forms part of Torbay Council’s wider strategy to support economic growth, retain skilled jobs and encourage innovative businesses to invest and expand in South Devon.
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