AMBITIOUS plans for an £18 million technology park on the outskirts of Worcester have been given a £350,000 boost by Worcestershire County Council.

The authority’s Conservative-controlled cabinet has agreed to use a portion of its £5.6 million New Homes Bonus – a Government grant given as a reward for building new homes – towards the plans for the 50-hectare site south of junction 6 of the M5.

It is hoped the site – which has the potential to employ 5,500 people and generate more than £240m every year – will become home to some of the country’s leading technology companies and help Worcestershire become a world leader in technology development.

Although Worcester Bosch – which had initially agreed to be the site’s main tenant – pulled out of the project last September, Coun Simon Geraghty said two other companies had since expressed interest in the site.

“We need to move on with this or we will lose these companies,” he said. “They want to be in by early 2015 so we have to keep going.”

The council had hoped to be able to use the government’s Regional Growth Fund – a £3.2 billion pot of cash for creating jobs throughout England. This was turned down in April, but Coun Geraghty said there were other sources of funding available.

“We are now able to market this as a site for local businesses to expand into,” he said. “I’m sure in the fullness of time this will be seen as very important.”

Council leader Adrian Hardman agreed it was important to press ahead with the scheme.

“Boosting the economy and promoting growth is part of the role of the New Homes Bonus,” he said.

The site will be made up of a range of 10,000 to 25,000 sq ft units at its southern edge while larger occupiers will be able to use the northern section according to their specific needs.

The central part of the site will contain an ‘enterprise zone’ for use by high-value ‘blue chip’ companies.