Construction has begun on a second building at the Liverpool Science Park (LSP).

The second, 40,000 sq ft Innovation Centre at the site will cost around £8m and will be based next to the city's Metropolitan Cathedral.

Since opening in 2006 the existing LSP Innovation Centre has experienced rapid growth with more than 30 companies locating to the park.

The new building will include 10,000 sq ft of dedicated laboratory space and it will enable existing businesses housed at LSP to expand, as well as providing new space for start-up companies.

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It is estimated that, with the delivery of further phases, the park could support as many as 7,000 local jobs within the next ten years.

Cllr Warren Bradley, leader of Liverpool City Council, said: "The big challenge for Liverpool is to sustain recent growth and create a successful, dynamic and prosperous local economy with both public and private interests at the core of this drive for improvement.

"This new phase for Liverpool Science Park helps to meet that challenge. It is part of a growing and important sector for the city and we are leading the way with knowledge-based industries and Liverpool Science Park will be able to attract even more cutting edge business to the city region and create high value jobs."

Innovation Centre II will offer specialist accommodation and services for young businesses with new ideas and intellectual property in the fields of science and technology.

Construction is to be carried out by Neptune Developments and is expected to be completed by the end of 2008.

(NS/JM)