The Solent LEP is providing £2m, alongside more than £5m from Fareham Borough Council and further investment from Oxford Innovation, to bring forward a £7.2m investment at the Fareham Innovation Centre on the Solent Enterprise Zone. This second phase of development, supported by the Solent LEP, will build on the remarkable success of the innovation centre to date, which was fully occupied within a year of completion. The investment will expand the existing accommodation for innovative SMEs on the Fareham/Gosport peninsula and provide move on space to enable businesses grown in the innovation centre to remain in the area, resulting in more jobs and opportunities for local people and the further creation of a significant cluster of businesses in the LEP’s strategic sectors. The investment will provide 33 offices and 5 workshops in a new 3,400m² building tailored to the needs of businesses in the strategic engineering, marine and aerospace sectors and will be, aimed particularly at businesses engaged in developing new and innovative technologies. Construction on the phase 2 development is currently underway.