Building work has begun for a new enterprise centre for North Devon.
A turf cutting ceremony has been held to mark the start of work on the centre at Devon County Council's new business park at Roundswell.
The centre is expected to be complete by the end of the year, providing office and collaboration space.
It will also provide tailored support for entrepreneurs and small and medium sized businesses that have potential for high growth and innovation.
The development is being funded by £2.9million from European Regional Development Fund and £2.15 from the Heart of the South West LEP's Growth Deal.
Devon County Council chairman John Mathews said: "This is a priority scheme for North Devon and Torridge so this is an important day.
"There is strong demand for small-scale commercial space in this part of the county and the enterprise centre will provide some of that additional capacity, along with Petroc's centre of technology and innovation excellence.
"This scheme wouldn't be possible without partnership working.
"It has received investment from the European Regional Development Fund and the Growth Deal from the Heart of the South West Local Enterprise Partnership, so thanks to them for the funding support which is taking this project forward."
Contractor ISG is developing the site on behalf of the county council.
The council will also procure an operator to deliver business support and run the centre once work is complete.
The enterprise centre will be complementary to Petroc's new £1.2 million centre of technology and innovation excellence.
Sean Mackney, principal and CEO of Petroc, said: "The college is delighted to be working with Devon County Council, the district councils and the LEP to support innovation and enterprise across northern Devon.
"We firmly believe that this centre, alongside Petroc's new centre of technology and innovation excellence will provide much-needed infrastructure to support our exceptionally talented entrepreneurs and innovators, including many of our current and future students who will drive the regional economy in the years to come."