Faro to build Technology Park next to airport

Faro to build Technology Park next to airport

A new technology park is to be built next to Faro airport – its aim to attract all manner of new businesses to the area.

“There shouldn’t be many technology parks in Europe like it,” said Deputy Mayor Paulo Santos, stressing the boon of the park’s proximity not just to the airport but also to the University of the Algarve and the Ria Formosa Nature Park.

“The geographic proximity to the Iberian market and other destinations, hand-in-hand with the climate characteristics, are more than enough reasons to boost the competitiveness of Faro and the region on a national and international level,” he added.

Other concrete goals involve cooperating with national and international entities and sharing technology, thus creating a working network between universities, resident companies, entrepreneurs and investors.

The borough council will liaise with the university over the park’s planning. It will stretch across 105 hectares at Montenegro/ Gambelas, and be financed as part of the MED Technopolis project, backed by the European Regional Development Fund (ERDF).

Besides the park, the area will also include space for further economic activities (still to be developed), new homes and green spaces.

Photo: Luís M. Rosa