IT incubator bid fails

The Festival Development Corporation (FDC) has failed in its bid to have an information technology business "incubator" at its Mt Penang site.

The FDC had planned to include information technology facilities in the development of the site, said FDC general manager Mr Keith Dedden.

An IT business incubator was seen as the nucleus for development of a future business park.

The FDC will now review plans for development of the IT park component of the project.

The FDC had joined with the Central Coast Economic Development Board to apply for funding an Information Technology and Communications business incubator under the Federal Government's BITS program.

Two Sydney-based groups were selected as the NSW incubator sites.

For further information, contact Keith Dedden on 4340 1002.