SINGAPORE – Jurong will be the home to a new industrial district that will be the centre of innovation for enterprise, learning and living, Minister for Finance Heng Swee Keat said in his Budget speech on Thursday (March 24). 

To be located near the Nanyang Technological University, the Jurong Innovation District will be developed into a single environment where learning, research, innovation and activities take place. 
The first phase is targeted for completion around 2022.

“Fifty years ago, we transformed Jurong from swampland into a thriving hub for the manufacturing industry that powered Singapore’s economic growth. Now, we will make another leap to create the industrial park of the future,” Mr Heng said. 

“Our earlier industrial estates were developed for specific industries, focused mostly on production. Today, however, learning, research, innovation and production are closely intertwined,” he added. 

The new innovation district will house LaunchPad, a space for entrepreneurs, researchers and students to design, prototype and test-bed their new innovations. Industrial infrastructure developer JTC is currently constructing the space and targets to complete it in 2017. 

JTC has also launched an Open Innovation Call to invite private-sector technology owners to test-bed and develop innovative, sustainable infrastructure solutions within the Jurong Innovation District, the Finance Minister said. 

Other infrastructure investments will test innovative solutions and include Changi Airport Terminal 5, which will better connect Singapore to the world. This year, the Government will make a further S$1 billion top-up to the Changi Airport Development Fund to support this effort, said Mr Heng.