Gav-Yam Negev announced earlier this week that construction has begun on the fourth building in the Advanced Technologies Park (ATP) adjacent to BGU. When completed in March 2020, the new building will add approximately 800 jobs to the ATP, in addition to the current total of 2,500 employees at the center. The announcement followed a successful bond offering in August, 2018 that raised NIS 320 million after drawing initial interest of more than NIS 1.3 billion.
The private bonds (Series 1), which pay an interest rate of 3.55%, will be listed on the Institutional Investors' Exchange. The attractive terms reflect the capital market's faith in Gav-Yam Negev's ability to draw young, well-trained professionals drawn from BGU graduates, and ultimately in the park's continued position as a driver of employment and economic growth for the city of Beer-Sheva.
BGU President Prof. Rivka Carmi said the success of the bond offering was the latest vote of confidence in BGU's academic excellence and the ability to turn ground-breaking research into profitable business.
“This is yet another expression of confidence in BGU's academic prowess and the continued realization of the vision we had when we founded the park with the city of Beer-Sheva, Gav Yam, a part of the IDB Property and Building Group, and of course with the assistance of the government. As a principal member of this trio, our university now serves as an example for the possibility of collaboration between the hi-tech industry and university's top-flight research, all of which can be applied for the benefit of local, national and international communities," Carmi said.
“The park is a shining example of the city of Beer-Sheva's global reach in the area of cyber-defense and the continued development of it and plays a crucial role in Israel's ongoing efforts to position the country as a major player on the world stage in this critical area while also serving as a local and national growth engine," she added.
Ruvik Danilovitz, Mayor of Beer-Sheva noted, "The city of Beer-Sheva is experiencing unprecedented growth and is becoming an international center for knowledge, technology and cyber development. The park's unique eco-system, which combines the municipality, Ben-Gurion University, the state, Gav-Yam and the business sector has really put Beer-Sheva on the map. Future stages of construction will strengthen this trend even further by attracting additional companies to the park, including the IDF Telecommunications Division."
