The proposed new Business and Technology Park is located in Killagoley on approximately 14.45 hectares. The development will facilitate Small and Medium Enterprises. The objective of same is to deliver a modern industrial facility with a view to attracting businesses from the science and technology sectors, the creation of jobs and for the betterment of the local economy.

Significant Timelines of the Project
| June 2018 | Part 8 Planning process completed |
| June 2018 | Commencement of procurement process for Phase 1 construction |
| December 2018 | Commencement of Phase 1 construction |
| December 2019 | Complete Phase 1 construction works |