UP TO 50 jobs are set to be created after a deal was signed for new development at Osprey Quay on Portland.

The South West Regional Development Agency (RDA) has agreed a contract with developers for 17 small business units in the Maritime Business Centre at Osprey Court.

It has agreed lease terms with Tidebank UK Ltd, based in Hayling Island, in association with Bognor-Regis based Highglade Properties Ltd.

The companies will build the office and work space on 2,844 square metres of land at the former naval air station.

Councillor Geoff Petherick, who is the brief holder for economic development at the borough council, said: “I am very pleased that the new business units at Osprey Quay are to be proposed as part of a new planning application.

“The potential to bring new business investment and well-paid employment to Weymouth and Portland is a major priority for the borough council.

“It is very encouraging to learn this positive news, especially in the current financial climate.

“It is an indicator that the local economy is working its way out of the recession.

“Osprey Quay is an excellent location for prospective business people, and there’s a good prospect that it will attract some highly successful new ventures.”

The scheme, which is still subject to planning consent, will incorporate 17 units in three blocks, available to lease or buy.

The units will range in size from 117 square metres to 294 square metres.

They will be aimed at small to medium sized enterprises in the marine sector.

The new facilities will include 80 parking spaces and secure yards.

If approved, construction is expected to begin in the spring of 2010 and be completed by the end of the year.

Alison Hatcher, who is head of regeneration for the South West RDA in Dorset, said: “We’re working hard to provide globally-renowned facilities at Portland.

“The RDA is investing around £40million to create a centre for marine business and leisure activity.

“Osprey Quay is an excellent location and with its ongoing regeneration, the agency is delighted that this development will provide further opportunities for the growth of the vitally important marine sector in this area.”