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West Northamptonshire Development Corporation is seeking planning permission to build a large glass office building in the town centre.
Located opposite Northampton railway station, the proposed five-storey Innovation Cube structure would provide office space for 60 small firms.
The new building would form part of the 'station gateway' development, which aims to regenerate the area along the rail line by creating new homes, offices and shops.
Chris Garden, director of regeneration at West Northamptonshire Development Corporation, said: "Together with our plans for Northampton Station, the Innovation Cube will form an impressive gateway into the centre of Northampton.
"Crucially, it will be a home to a range of inventive new businesses, bringing vital new jobs and investment to the area."
Work on the Innovation Cube, which is estimated to cost around £6.5 million, could start in the summer of 2012 should it receive planning approval.
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