The aim of the project “Construction of the Innovation Centre and Public Infrastructure at 2 Rūpniecības Street, Ventspils” is to restore degraded territory in Ventspils by creating an infrastructure for business support and public infrastructure, thus ensuring sustainable, environmentally friendly and environmental sustainability-friendly territorial growth and promoting the creation of new jobs. During the implementation of the project, modern office premises will be created for companies operating in the fields of electronics, information and communication technologies, innovations and creative industries. The premises will be improved and provided with the necessary universal infrastructure. Within the framework of the project, it is planned to complement the existing urban street network covering the degraded territory with a new engineering structure of the road complex – a parking lot. The parking lot is intended for visitors, residents and guests of the building, providing an opportunity to leave the vehicle in a public area. The implementation of the project will ensure improvement of the business environment, increase the number of jobs and increase tax revenue in the municipality, as well as provide graduates of educational institutions of the city with the opportunity to find work corresponding to the specialty after graduation of the educational institution. The project will be launched on October 1, 2019 and completed within 39 months by 31 December 2022. The total costs of the project are related to the Project implementation and are necessary for the implementation of the activities specified therein, to ensure the needs of the target group and to solve the defined problem. They will ensure the achievement of the project objective and indicators. The total eligible costs of the project are estimated at EUR 7309744,80, of which EUR 6172420,79 (84.44 %) is European Regional Development Fund funding, state budget grant 217 850.15 (2.98 %) and municipal funding EUR 882266.36 (12.07 %). The project also envisages private eligible costs of EUR 37207,50 (0,51 %), which will be covered by the Project ApplicantThe main planned results of the project are:• revitalised degraded area of 2.93 ha;• 99 new jobs have been created;• investments by merchants in intangible investments and fixed assets – EUR 239394.The project is planned to be implemented in synergy with the project “New Construction of the Science Centre at 2, Ventspils”, which is planned to implement 5.5.1.