The Kerala government today approved projects worth Rs 997.65 crore for the development of Technopark in the next five years.
Talking to reporters after a Cabinet meeting, Chief Minister Oommen Chandy said the amount for the next five years from 2015-16 to 2019-20, would be spent on developing infrastructure, land acquisition and marketing of phase One, Two and Three of Technopark here and Technocity and Kollam Technopark.
The amount includes Rs 69 crore for 2015-16 while Rs 285 crore would be released for 2016-17, Rs 205 crore for 2017-18, Rs 211 crore for 2018-19 and Rs 208 crore for 2019-20.
Technopark, started in 1990 with 100 per cent funding by state government has at present an asset of Rs 1050 crore. This comprises the first, second and third phase of Technopark Thiruvananthapuram, Technocity and Kollam Technopark.
Technopark that was started with just two companies and 155 staff has now around 350 companies and has given direct employment to 47,000 persons.
The aim is to generate 56,000 job opportunities in the next five years, official sources said.
Currently the government gets Rs 100 crore in the form of tax. The yearly software production from the companies in Technopark is to the tune of Rs 12,000 crore and export is worth Rs 5000 crore.
There is 20 per cent growth rate for companies in Technopark, sources added.
