The Taipei City government has launched a 'Taipei Technology Corridor' project that it hopes will turn Taiwan's capital city into a knowledge-based high-tech hub and create a favorable international investment environment. Chen Wen-hsiung, director of the city's Department of Economic Development, said the goal is to develop Taipei City into a global high-tech, R&D and business operations stronghold by capitalizing on its ideal location within Asia, business friendly environment, strong human and capital resources, and sound Internet infrastructure. The 893.3-hectare corridor will stretch from the Neihu Technology Park to the Kuandu Industrial Zone, connecting the Nankang Software Park and the planned Shihlin-Beitou Technology Park, according to the city government. With the corridor increasingly taking shape, more information, biotechnology, communications and cultural innovation companies have set up shops in these parks, Chen said. Citing the 150-hectare Neihu Technology Park as an example of the corridor's potential, Chen said it has now become a cluster for high-tech businesses, an operations center for the global electronics industry, and the hub of Taiwan's telecommunications industry. A total of 3,446 enterprises, (including 26 business headquarters and 12 research centers) operate in the park, with a production value of NT$2.7 trillion (US$83.85 billion) per year. The Nankang Software Park is designed to attract biotechnology, IC design and digital content firms. In addition, the Taipei City government is planning to position it as an Asian Software Park and an Asian R&D center. Currently, 275 companies, (including four business headquarters and six R&D centers) have moved into the park, racking up NT$182.6 billion in revenues in 2007. To strengthen the park's cluster effect, a third-stage expansion project was completed in September 2008 and is expected to generate an annual production of US$1.86 billion in the future. The planned Shihlin-Beitou Technology Park, the third high-tech compound in Taipei City after the Neihu and Nankang technology parks, will be located on a 195-hectare plot. It will comprise knowledge-based companies in the biotechnology, media and telecommunications sectors and create an estimated 35,000 jobs after its completion, which is projected for 2015. 