Derry STEM Centre of Excellence has potential of creating 1,000 jobs
The North’s first STEM Centre of Excellence being proposed for Derry has the potential of creating 1,000 jobs and 100 new businesses, it has been revealed.
As well as new jobs and businesses, the proposed Centre also aims to create 1,000 apprenticeships a year.
A three-acre site has been acquired and planning permission obtained for a 10,000 sq ft of accommodation for the development at Skeoge Industrial Estate in the city.
A further four acres is available for future expansion.
The North West STEM Centre of Excellence will be industry-led and market driven initially targeting the global niche market of Disaster Resilience, estimated to be over US $100 billion worldwide.
The project is being proposed and funded thus far by Stephen Wade, of SWF Ltd, who has been running a successful engineering company in the North West for the last 20 years.
It is believed the project will attract Department of Enterprise Trade and Investment (DETI) support and EU funding.
The project has the backing of several members of Magee University and Letterkenny LYIT with who Mr Wade has had a working relationship over many years
Mr Wade and his investors believe the proposal has the potential to provide the people of Derry an opportunity to escape the “cycle of low wage and low skill” jobs.
He revealed he has plans to partner with a USA university and separately was in discussions via InvestNI contacts with suitable USA firms to partner with for R&D
It is also hoped to involve companies such as BT which Mr Wade believes would ensure the local workforce acquired the skills that it “desperately needs to compete in today’s world.”
Patrick Simpson, of Brusnwick Enterprises Ltd (developers of Brunswick Superbowl complex), believes in the project.
He said: “It is visionary and capable if successful of transforming the city economically.”
Mr Simpson called on all the politicians to “put their weight behind it.”
Local businessman, Colm Mc Kenna, who has been involved in the project for some time, is also supporting the development.
Stating he would be happy to invest in the project, he said: “If this city is to have an economic future it needs to develop a core enterprise culture and this type of R&D centre proposed could provide the hub to establish to re-establish a strong engineering industry in the city and research and development core leading to and enterprise culture.”