Malvern Hills Science Park given go-ahead for £4m funding
Funding has been approved for a £4m expansion at the Malvern Hills Science Park in Worcestershire.
The plans will see new offices and laboratories built, which developers said could create up to 150 jobs.
The expansion was initially approved by local planners in April, but depended on government funding.
It has now said £1m will be provided this year, with a further £3m in 2014 to fund what local MP Harriett Baldwin said was much-needed space.
The Conservative MP for West Worcestershire said many of the businesses were running at capacity, with a waiting list of new firms.
Twenty three firms are currently based at the Geraldine Road site, employing about 300 staff.
Ms Baldwin met procurement minister Philip Dunn last week to discuss the plans.
"It is great news that the government has approved the funding for the new building programme and I am told there is great demand for the space that this building will free up," she said.
"The minister was very impressed with the work being done in Malvern by QinetiQ, UTC and lots of smaller high tech firms like Borwell, 3SDL, Dytecna and Deep Secure.
"We were able to lay out some ambitious plans for significant future growth across Cyber Valley with Malvern at its heart."
The funding agreement means an extra 25,000 sq ft (2,322 sq m) of office and laboratory space will be built at the site.