Construction has started on a third flagship business incubation centre at Navigation Park in Abercynon, creating serviced accommodation for another 100 people in early stage growth companies and bringing total investment on the site to £6m.

The new 19,000 sq ft state-of-the-art facility is funded by business support organisation Venture Wales, whose headquarters is located on the same site. The new jobs created - which cement Venture Wales' commitment to the Abercynon business park - will bring the total number of people working at Venture Wales premises on the site to around 350 in nearly 60,000 sq ft of office space.  It also brings the organisation's property portfolio to 160,000 square feet.

The new £2.4m complex will deliver much-needed modern office space for new and existing knowledge based small and medium-sized enterprises and is due to be handed over to Venture Wales in November 2008.

The latest phase of development at Navigation Park will be at the cutting edge of environmentally friendly design and is set to achieve a BREEAM Excellent rating, the most widely used environmental assessment method for new building developments. A host of conservation measures including geothermal heating and rainwater harvesting have been incorporated into the design and local labour and materials will be used whenever possible during the construction process.

Philip Cooper, Managing Director of Venture Wales, said:

"The project will contribute to sustainable economic development and regeneration in the Abercynon area through the redevelopment of a brownfield site. This new business centre complements our high quality office cluster and will create much-needed additional space for new and growing firms in Rhondda Cynon Taff leading to a stronger and more diverse SME base for the area. 

"It also positions Venture Wales as serious players in the property development sector. We are committed to investing in the property division of our business to meet the continued demand for flexible accommodation for early stage firms."

"The Directors are also committed to the principles of sustainable development and believe that we have a responsibility to lead by example on environmental issues and to ensure we leave a lighter carbon footprint for the younger and future generation.

"The development will complement the existing facilities at Navigation Park which thanks to its superb location combined with the on-site business support and modern environment is fast becoming one of the most desirable business development locations in Wales".