Building of business centre begins

10:11 pm on 3 April 2012

Building has begun in Christchurch on Tuesday on a $4 million business centre which will house technology companies on the edge of the red zone.

The enterprise precinct and innovation campus is funded by BNZ and is located on council land made available for five years for a peppercorn rent.

The project was officially launched by Science Minister Steven Joyce, who says the Government will also contribute $1.8 million in grants over the next three years.

The campus will have 17 tenants - all of them small to medium innovation companies - and the inital funding will be progressively paid back once the centre is operating.

Directors say the shared site will stimulate collaboration and allow Christchurch to brand itself as a city of innovation.