Victoria, British Columbia; October 16, 2007 – The Vancouver Island Technology Park, a University of Victoria Enterprise, received final approval of its expansion plans during a public hearing on October 15, 2007.  This approval completes the amendment application which began with an approval from the Committee of the Whole on September 17, 2007.

The intent of this amendment is to amend the Rural Saanich Local Area Plan by deleting the 2001 Masterplan with the current Masterplan 2007.  Whereas the previous plan focused on six stand-alone buildings spread over the 35-acre
property, the new-approved Masterplan places a stronger emphasis on the building of “tech community” at VITP. 

The Masterplan signifies 250,000 square feet of new construction designed to accommodate multi-tenant premises through to large single tenant occupancy.  It is forecasted that in today’s dollars, this development will generate
$80 million dollars in construction to the local economy, and will bring an additional 1,500 jobs to the site, resulting in a total workforce of over 3,000 hi-tech employees at VITP.

About Vancouver Island Technology Park

The Vancouver Island Technology Park, a University of Victoria Enterprise, facilitates the growth of technology on Vancouver Island by providing physical infrastructure linking local, provincial, national and international resources with emerging or growing tech companies. VITP is a highly acclaimed centre of hi-tech excellence for world class science and innovation. Today, the existing 165,000 square feet facility is a proven model which is fully-leased to 29 hi-tech companies. VITP is home to 1,300 highly-skilled and educated workers who contribute in excess of $280M annually to the economy of British Columbia.

Media Contact: 
Av Hundle
Manager, Business Development and Marketing
250.483.3228
ahundle@vitp.ca