FIFTY jobs are being created at Malvern Hills Science Park – after council chiefs agreed to invest £4 million in the site.

Worcestershire County Council is going to help fund phase four of the site’s expansion by taking out shares in the park.

The authority has agreed to take out a loan to fund the share scheme, which will go towards a new 25,000sq ft building.

It will be occupied by Goodrich, which is based in a smaller unit on the park but wants to expand into bigger premises.

The park, which originally opened back in 1997, is home to 30 technology-based firms and employs about 300 people, but is full to capacity.

Councillor Simon Geraghty, deputy leader of the county council and cabinet member for the environment, said: “This is a big step forward and really significant piece of funding that will allow the science park and grow and take on more jobs.”

Coun Clive Smith, who represents Malvern Link, said: “I remember when this science park was first devised back in the 1990s, and we were half-amillion pound short of being able to fund it.

“So I went to Brussels with a delegation to try to make the difference.

“It’s great news to see it where it is now.”

Goodrich is a software company which supplies IT services, largely to the defence and security industry.

It employs 95 people, and is drawing up plans to become the main anchor business in phase four of the development.