The project aims to build on SAMS' world class reputation for research as well as acting as a launch pad for new businesses in Scotland's growing life sciences sector. HIE gained outline consent for the marine science park last year and has recently submitted detailed proposals for consideration with Argyll and Bute Council.

Construction of phase one, which aims to create a new laboratory and office building capable of hosting three marine science businesses and supporting up to 119 jobs, could start in October.
This high technology  jobs generation works out in the region of £630,000 per capita.

HIE will contribute £4.5m of its own grant-in-aid budget from the Scottish Government, and has attracted the remaining £3m towards this first phase from the European Regional Development Fund (ERDF).

The development of the European Marine Science Park will build on the Highlands and Islands growing reputation as a competitive location for life sciences. The sector contributed over £130m to the region's economy in 2008-09 and accounts for around 50 businesses in the region. The country's biggest life sciences employer, with a workforce of around 1,300 is Lifescan Scotland based in Inverness.

HIE Chief Executive Alex Paterson (right) said: "The life sciences sector is a key component of Scotland's economy in the 21st century which can make a significant contribution to the country's recovery from recession.

"SAMS is already renowned internationally both for the quality of its research and its commercialisation activities. Co-location with SAMS has been instrumental in the creation and growth of leading edge businesses like Aquapharm and Glycomar.

"This investment will enable us to sustain the momentum behind  development of marine science in Argyll and take it to the next level.
HIE believes we have a tremendous opportunity here to combine an exceptional natural marine resource with world-class research expertise to create a unique niche opportunity in a growing global market."

HIE's Area Manager in Argyll and the Islands, Douglas Cowan (left) said the local economy is expected to benefit in other ways too. "Argyll's marine environment is a fantastic resource which helps sustain businesses involved in the food and leisure sectors as well as renewables and cutting edge science."

He added: "The success of existing businesses at Dunstaffnage shows the considerable potential that exists here."

Dr Ken Jones, deputy Director of SAMS, welcomed the progress towards the European Marine Science Park on their doorstep at Dunstaffnage.

"Since 2005 SAMS has been nurturing new marine biotechnology companies in the European Centre for Marine Biotechnology and we have been witnessing their successful growth."

"The development of a marine science park will allow SAMS to maintain close links with these companies, and means that the area will retain them when they outgrow our currently fully occupied facilities. We will work with our partners in HIE and elsewhere to develop a cluster of high value marine related activity at Dunstaffnage."

"This decision also bodes well for our growing number of graduates who will not have to move away from the area to develop an interesting career using their skills in marine science."