BUSINESS leaders have welcomed the latest progress on the development of Exeter Science Park.

Work started this week on a £1.1million access road which is integral to opening up the site as a hub for hi-tech industry.

It will provide access into the Science Park from north of the site, as an alternative to the main access from Junction 29 of the M5.

Professor Sir William Wakeham, chairman of Exeter Science Park, said the works represented a major step forward but stressed the scheme was a long-term development.

"There are many imponderables because of the spending review but it looks likely that we shall probably get a building on site at the back end of 2012 or beginning of 2013, so that defines when the actual action can begin," he said.

"This site is so important, we are talking about decades of development for the Science Park so everything has to be put in place over a long period of time. There's an extensive amount of work to be done to prepare the site for businesses to move into."

The new stretch of road will run from Tithebarn Lane to the closed section of Blackhorse Lane between the Langaton Lane junction and the M5.

During the current phase of works, key utility services will also be installed along with sustainable drainage and groundworks for an electrical sub-station.

The new road will link into the second phase of Science Park highway infrastructure which is scheduled to start early in the New Year.

Tim Jones, chairman of Devon and Cornwall Business Council, said Exeter Science Park was vital to the future economic growth of the sub-region.

On the start of the infrastructure works, he said: "This is a big relief. This is what we have been planning for a long time, so it's really good news.

"It's a key step forward in the development of Exeter's knowledge-based economy. If it's anything like as successful as Plymouth's Tamar Science Park, the businesses that could be established there are going to be creating jobs 50 years from now."

The first phase of construction of the Science Park highway also includes a cycle and footbridge across the motorway, which is currently being built. The scheme is scheduled for completion by the end of March 2011.

Prof Wakeham said the next step was for the public sector partners to seek a private investor to help fund the development of business units on the site.

It is expected that the Science Park will comprise a mix of speculative and bespoke development. The first building on site is expected to be a multi-occupancy incubation centre for knowledge-based businesses with on-site support services, including advice on intellectual property and other issues.

A marketing strategy for the Science Park is currently being developed and Prof Wakeham said he had highlighted the development on recent visits to India and China.

The Science Park site was purchased by the South West RDA in 2008 for £8.8million. Devon County Council received a grant of £8.5million from the RDA to develop the infrastructure for the site.