The Balearic Technology Innovation Park (Parc Bit) was created in 1997 and opened in 2002 with the aim of diversifying the economy. The complex's objective was to become a benchmark space for knowledge, innovation, and technology. However, this ambition has been left halfway: in 2023 there were 3,000 workers and 200 companies, but the Government wants to "revitalize it" so that this figure grows to 30,000. This Wednesday, the Executive has signed an agreement to invest 20 million euros to build 120 homes there that can attract companies, and it also plans the creation ofan Engineering faculty in this space, as reported by ARA Balears.

The Balearic Government will invest nearly €68 million by 2030 in a plan to attract and retain businesses and talent at ParcBit, with initiatives to modernize infrastructure and build residences for researchers and students, among other things. Government representatives announced the plan on Monday, which aims to make ParcBit the "engine of change" for the economic diversification of the Balearic Islands and an "innovation hub" to attract companies in the sector, as stated by the Director General of Innovation and Digital Transformation, Sebastián González. The President of the Balearic Government, Marga Prohens, indicated that ParcBit has been prepared for this purpose during this legislative term through regulatory changes, the extension of the metro line to the park, and the inauguration of the Balearic Islands' research complex. In his speech, Prohens emphasized that this plan "is not just an investment in infrastructure," but a "strategic commitment" to transforming the Balearic Islands' production model "through knowledge, innovation, and talent." Also participating in the event were the First Vice President and Minister of Economy, Finance, and Innovation, Antoni Costa; González himself; and the President of the Spanish Association of Technology Parks (APTE) and CEO of Málaga TechPark, Felipe Romera. The plan to attract and retain companies and talent is structured around four main strategic lines. The first focuses on transforming and revitalizing ParcBit's corporate identity and communication, with the aim of "strengthening its brand and positioning it as a nationally and internationally recognized innovation hub." The second line of action focuses on investments in infrastructure and the natural environment, with initiatives to expand and modernize business spaces, improve buildings and shared services, promote advanced technological infrastructure, and strengthen the park's integration into its surroundings, with a "focus on sustainability and energy efficiency."