The £1.5 million development will create accessible, affordable accommodation for new and existing small to medium-sized (SME) businesses.
The council carried out a feasibility study which identified significant demand for small business units that would suit developing SMEs, particularly in Wishaw, and this has informed the type of premises to be created.
Councillor Anthony Clarke, Convener of Property, said: "We know from our research that there is a demand for modern, flexible industrial space so this development will fill a gap in the market and provide practical, quality accommodation for local companies."
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They are providing £345,190 from the capital programme, with £750,000 from the Vacant and Derelict Land Fund. The council have applied for £449,810 from the European Regional Development Fund and are waiting on a decision.
Convener of Regeneration, Councillor Tom Maginnis, said: "The council is keen to identify ways of supporting local businesses, particularly in this difficult economic situation, and to redevelop areas of vacant and derelict land. The Netherton Industrial Estate project will rejuvenate a brownfield site and the existing industrial area, boosting the local economy and bringing in a long-term income for the council."
The council currently owns most of the 0.37 hectare industrial estate and the existing properties vary in size, age and condition. These buildings would be demolished to make way for the new facilities.
Demolition of part of the site has been completed, and tenders for the contractors to design and build the industrial units are being prepared.
(GK/BMcC)
