The President of the Government stated in Angra do Heroísmo that the new Terceira Science and Technology Park, an investment of eight million Euros, is an ambitious project aimed at strengthening the competitiveness of the Region's economy. This goal requires a strong partnership involving the University of the Azores and Azorean companies.
 
"This work represents a step that has to do with the public component, but there is now a path that is now open to other entities, including the University of the Azores and companies. It takes into consideration the fact that they are focused on innovation and knowledge for wealth generation and employment creation," said Vasco Cordeiro.
 
The President of the Government spoke at the ceremony of laying of the first stone of TERINOV - Science and Technology Park, an investment included in the Economic Revitalisation Plan of Terceira Island. It will be installed in the buildings that housed the military hospital in the 1940s and the Terra Chã Campus of the University of the Azores.
 
Hence, Vasco Cordeiro stressed that this new infrastructure falls under the goal to strengthen the competitiveness of the regional economy and boost wealth generation. In addition to the construction of TERINOV, this goal also requires a strong partnership between the regional business fabric and the University of the Azores.
 
On the occasion, the President of the Government also highlighted the food processing component of this Science and Technology Park, which, under normal circumstances, would be important for the development of this specific sector.
 
"Given our current situation, it is even more relevant the fact that we are investing in the agri-food component, namely in the dairy sector, so that we can take steps forward in innovation and knowledge" said Vasco Cordeiro.
 
In his speech, the President of the Government also highlighted the fact that this project awards priority status to urban renewal, putting into practice the Government's political guidelines towards the rehabilitation of existing buildings whenever they may have new uses.
 
According to Vasco Cordeiro, the construction of TERINOV on Terceira Island is not an isolated case in the Region. It is another part in a set of infrastructures located on several islands, such as the São Miguel Science and Technology Park - NONAGON, the ESA Tracking Station on Santa Maria Island and the ARM project on Graciosa Island; the latter is currently in progress.
 
"These services are directed to our Region, but also allow the channelling of external investments that may bring added value to these areas of our development", said Vasco Cordeiro.
 
With the rehabilitation of an area of about 5,000 m2, TERINOV will have an area for a business incubators, coworking spaces, six areas for cultural and creative industries, eight spaces for existing companies, two wings of research and development laboratories for the food industry and biotechnology, and a laboratory for innovation in dairy products.