The East of England Development Agency (EEDA) has handed the council £14 million and ownership of the forthcoming Innovation and Business Base at Butterfield.
The Innovation and Business Base (IBB) will provide first class accommodation for start-up companies in the high-tech sector. Its outstanding architectural design incorporates a number of exciting energy saving features and will provide a stimulus for creative ideas.
Companies based at the centre will benefit from the state-of-the-art surroundings as well as specialist help and support to ensure their new ventures are a success. As businesses grow past the start-up phase they will be encouraged to move into other accommodation on the Butterfield site.
The IBB will act as a catalyst for boosting Luton's economy. It will create jobs and provide a strong focus for Luton's move towards a highly skilled, knowledge-based economy that can support high-tech businesses.
Colin Chick, director of environment and regeneration at Luton Borough Council, said: "Starting construction of the IBB at Butterfield marks the first sign of a project which has risen from the ashes of the Vauxhall car plant. Providing 100 supported units and creating 450 jobs, it will focus on start up and new technology businesses to both widen and strengthen employment opportunities in Luton. We have worked hard with our partners including EEDA, Government Office and the DTi to secure the funding for this prestigious building set in parkland."
Sensitively designed by internationally renowned architects Hopkins the centre will be naturally ventilated and feature a spacious, vibrant entrance to encourage interaction between the building's tenants. Light and pleasant arcades on the ground floor will make use of open courtyard space and provide circulation access to the ground floor offices, and a central lake will form part of the sustainable drainage strategy and support a wide range of wildlife.
Plans for the IBB were developed as a result of the closure of the Vauxhall plant with the loss of 1,900 jobs. The council, EEDA and other key organisations felt something needed to be done to provide a new 21st century source of employment for Luton workers. The IBB and technology park will brighten Luton's prospects by helping it to further establish itself as a prime location for modern high-tech businesses.
EEDA Board member Yasmin Shariff said: "The business base has a philosophy of excellent design and aims to lift the aspirations of those who work and visit Luton, while nurturing a more creative working environment. We have worked hard to get an exemplary design that will ensure this.
There is a proven connection between high quality design and successful economic regeneration, and we are confident that the exceptional design qualities of the centre will act as a catalyst for boosting Luton's economy. It will create jobs and will provide a strong focus for Luton's diversification towards a high-skilled, knowledge-based economy that can support high-tech businesses."
One of the most notable aspects of the centre's design is that it is set to achieve the Building Research Establishment Environmental Assessment Method (BREEAM) "Excellent" rating Ð its highest classification Ð which recognises that the design incorporates best environmental practice.
In particular the design incorporates many passive energy and energy saving features, and these will not only make it a best-practice exemplar for other new buildings in the area, but also raise the bar for innovation centre design standards throughout the East of England.
Chris Bannister, director of Hopkins Architects, said: "We are delighted to be involved in this scheme to help regenerate LutonÕs economy. The building uses a range of passive sustainable strategies to create a high quality low energy scheme that will hopefully provide an inspirational home for young start-up businesses in the region."