ADVANTAGE West Midlands, the regional development agency, is looking to invest in Malvern Hills Science Park.

The agency has commissioned a study on the future of the park, which opened in 1999 and is now home to 20 high-tech companies employing over 150 staff.

Spokesman Mark Pearce said: "Advantage West Midlands is very keen to consider investment into the site, and realises the serious potential of providing additional space for existing tenants and also to assist in attracting new business start-ups."

He said the study is due to start in September and its results will be disclosed in December.

"There is no doubt the Science Park has been a real success story. The current tenants are keen for the site to be expanded by 30,000 square feet so that established high-tech companies are able to grow and develop and there is provision of space for more business start-ups

"The study will be given the task of detailing the specific levels of need and demand for further development on the site and will then advise Advantage West Midlands on what role and investment it needs to make."

Advantage West Midlands has already invested £1.3 million in the park's first phase back in 1999.

Plans for the future of the park have already been revealed and include eight new buildings on the site.

Earlier this year the park was promised £14 million of European money to help pay for the new buildings and other improvements on the site.

Advantage West Midlands is keen to get involved because of its backing for the "A38 technology corridor", which is one of the major ideas for revitalising the regional economy.

The corridor stretches from the park and its neighbour QinetiQ to universities at Aston and Birmingham.