A DISTRICT council has shown the value of investment and innovation in stimulating economic growth by creating an enterprise park from scratch.

East Hampshire District Council (EHDC) announced the completion of 20,000 square feet of employment space in Liphook on September 11.

The development, called Ordnance Business Park, was instigated by the council as part of a solution to a shortage of high-quality premises in the district. It identified the location and its economic development team oversaw the planning process and construction of three buildings for office and light industrial use.

A £4m investment - £2.5m from EHDC and £1.5m from the Enterprise M3 LEP – helped acquire the site and deliver the build. Through an innovative commercial agreement, the rental income will be re-invested into growing the local economy.

Glynis Watts, the district council’s portfolio holder for economic development, said: “EHDC is one of the country’s most business-friendly councils and the redevelopment of this site has been one of our most important economic projects over the last few years. As a council we have driven this project through from inception to completion and it just shows what can be achieved with determination and positive partnerships.”

She added: “It is incredibly satisfying to see the new businesses settling in, creating jobs and boosting our local economy. The project underlines EHDC’s commitment to innovation, commercialism and supporting local business growth – this will continue to be our strategy moving forward.”

The facility has attracted significant interest with two hi-tech, high-growth companies having already moved in - Bafta-winning Zen Broadcast and Lumi, a global provider of audience engagement technology.

Dave Axam, chairman of Enterprise M3 LEP, said: “Creating high quality employment space and a can-do culture for high-growth innovative businesses is at the heart of what we do. We are delighted that our investment and our work with EHDC is delivering such great business results.”