Andhra Pradesh’s IT minister Nara Lokesh laid the foundation stone for a new IT park in Visakhapatnam on Tuesday, marking a significant push to attract technology companies to the coastal city.
The move signals the state government’s commitment to diversifying Vizag’s economy beyond its traditional port and steel industries. Multiple IT firms have already shown interest in setting up operations at the facility.
Why Vizag Matters for Tech
Visakhapatnam has been positioning itself as an emerging tech hub in recent years. The city offers better real estate costs compared to Bangalore or Hyderabad, plus strong connectivity through its airport and port infrastructure.
Lokesh emphasized during the ceremony that the new IT park will create thousands of jobs for local talent. The facility is designed to accommodate startups, mid-sized companies, and established tech giants looking to expand their operations.
The government has also committed to providing reliable power supply, high-speed internet connectivity, and streamlined approvals for companies setting up here. These factors have traditionally been pain points for businesses in tier-2 cities.
What Comes Next
Construction is expected to begin within the next few months. The first phase should be operational within 18-24 months, with capacity to house 50+ companies initially.
The state government is targeting companies in software development, data analytics, cloud computing, and digital services. Tax incentives and land subsidies are on the table for early movers.
Industry watchers say this could be a game-changer for Vizag’s job market. If successful, the IT park could attract ₹500+ crores in investments and create over 5,000 direct employment opportunities within three years.
Local educational institutions have also begun ramping up their tech courses to supply skilled workforce to these incoming companies. Several colleges in Vizag are now offering specializations in AI, machine learning, and cybersecurity.
For job seekers in Vizag, this development means better career prospects without having to relocate to metros. For existing residents, it could boost property values and support services in the surrounding areas.
The foundation stone ceremony drew participation from IT industry representatives, state officials, and business leaders. Several companies have already submitted preliminary applications to book spaces once the park officially launches.
Watch this space as Visakhapatnam transforms into South India’s next tech destination.