New corporate park 'no threat' to Redfern facility

New South Wales Premier Bob Carr says a new corporate park he will open in Sydney's east today does not pose a threat to the financially troubled Australian Technology Park at Redfern.

The $70 million Sir Joseph Banks Corporate Park at Botany is expected to employ up to 1,200 people.

It already has some major companies among its tenants.

The technology park in nearby Redfern, which has just been taken over by the Government's new Redfern Waterloo Authority, was reported late last year to be carrying $38 million in debt and losing $4 million annually.

But Mr Carr says they are not in competition.

"The Redfern land is there for incubation of innovative industry," he said.

"This, by contrast, is a private sector site for high-tech business investment and estimated to provide a base for employment of 1,200 people.

"It's the sort of land we need if we're going to continue with the flow of investment, the strong flow of investment that has kept unemployment in New South Wales at a 20-year low."

ABC News on Line: Thursday, February 10, 2005. 12:00pm (AEDT)
http://www.abc.net.au/news/newsitems/200502/s1299832.htm