MILLIONS of pounds of investment has been announced to create a new campus for science and technology.

Colchester Institute has today been awarded £5million by the Government for the project.

Thousands of jobs will be created and safeguarded by the move, which will form phase two of an existing Stem centre, focusing on science, technology, engineering and mathematics.

It will transform a campus from a further education college to a technology centre of excellence.

Alison Andreas, of Colchester Institute, said: “This really is recognising us as one of the leading providers of training in the region.

“We are on phase one of the Stem centre, which is due to be finished in April.

“This money will enable phase two, which will see us provide more apprenticeships and training in Stem areas.”

The Stem campus, which will be created in Braintree, will provide skills training for local employers, who will also help to deliver the apprenticeships and skill training.

The money will also fund the building of the campus.

Science, technology, health, information technology and creative and digital media will all be featured in the campus expansion.

A new two or three-storey building will be produced next to the centre, of which phase one is already being built.

The first phase will be completed in April, and phase two could be started as early as the end of this year and be completed in spring next year.

Ms Andreas said: “It actually could be built and opened quite soon.

“We are obviously pleased. But we did put in another bid for a health project in Colchester, which unfortunately did not get funding. So we will keep trying to get funding for that one.”

Althought the new campus has been awarded £5million, more money is needed to build it.

As well as Colchester Institute putting in some money of its own, there is a possibility Essex County Council could contribute too.

The Government grant will be announced today by Andrew Percy, minister at the Department for Communities and Local Government.

This morning Mr Percy is due to visit the county to see some of the plans the Government money will fund.

In its bid to the South East Local Enterprise Partnership, Colchester Institute said it would create and protest 6,499 jobs, as well as deliver training for more than 5,500 people.

In total, £55million of investment has been promised for Essex.

Stansted Airport is set to get £3.5million to fund a technical and professional skill centre, Southend Airport will receive £20million to build its second phase of its business park and improvements to junction eight of the M11 will also receive £2.73million of funding.

  • ESSEX University is set to get £2million to fund its new innovation centre thanks to the Government grants.

The centre, which will be based at the Knowledge Gateway, will home 50 small hi-tech businesses looking for somewhere to start.

The centre will also offer support and guidance for the new businesses to guide them in their ventures.

Up to 400 jobs could be created by the innovation centre, which will cost £10million.

Work started to create the innovation centre last month and it is expected to be finished spring next year.

Bryn Morris, Essex University registrar, said: “This funding will help us forge ahead with our plans, which will offer a vibrant home to more than 50 start-up businesses. 

“Those businesses will be able to benefit from practical, hands-on support and expertise which will help them to scale-up, and succeed. 

“On their doorstep at our Colchester Campus will be our world-class researchers, student and graduate talent, and excellent facilities. 

“This next step in the development of the Knowledge Gateway research and technology park shows our commitment to becoming the location of choice in the eastern region for enterprises in science, technology and the creative sector.”