A new $14 million building will start rising at the Waikato Innovation Park next month as part of a move to draw Auckland companies to the region's fast-growing technology centre.

The 2900sqm building will extend the business park's size by more than a third.

A recent Technology Investment Network (TIN100) report said Hamilton's tech sector showed 16.3 per cent revenue growth last year, making it the country's fastest-growing technology sector.

Waikato Innovation Park chief executive Stuart Gordon said the list of globally successful hi-tech companies working at the park was long and growing, especially in the agri-tech sector.

Advertisement

"Companies such as desktop software developer More4Apps and hardware, software and professional services developers Torutek, Rezare and Layerx have chosen the park as their New Zealand headquarters," he said.

"Multinational Tetra Pak moved its base from Auckland to the park because the environment suited both staff and work, and was close to other technology companies working in the food hi-tech space."

The MBIE survey showed the nearest tech hub competitors to Hamilton were north Auckland and Northland, which had combined growth of 16.1 per cent. South Auckland showed 9.4 per cent growth.

"When you look at the population base here in Hamilton compared to north Auckland and Northland, or south Auckland, we're well-outperforming these regions with our growth in the tech sector," Gordon said.

"We want these companies to know the Waikato is open for business and we're creating a hub here at Waikato Innovation Park that will support and create a sense of community around the work they are doing."

Gordon said the reason the park as been able to succeed beyond just a cluster of buildings is that it is a community, with cafe and conference centre.

Existing and future park buildings had been deliberately designed to create that community. This was in line with the purpose set by central government and Hamilton City Council when they funded the original development for the park.

The new building would be a hub, sited at the centre of the park and providing a civic meeting place that enables and fosters collaboration and knowledge sharing, Gordon said.

Advertisement

"The hub will be a dynamic location offering opportunities for events, community interaction, informal and formal meetings and conferences, supported by a high amenity environment."

The 17ha park hosts more than 60 company tenants with 1600 staff between them, including 562 working onsite and 1049 offsite.

Beside the Ruakura Research Centre and a neighbour of Waikato University, it opened in 2004 to cluster businesses to help drive Waikato economic growth.

The park was owned by Hamilton City Council until 2017, when it was sold to private investor Neil Foster after the council decided it wasn't the right backer to achieve the park's master development plan.