Georgian College is trying to shore up millions of dollars to build a new innovation centre at the Barrie campus.

The new 60,000 sq.ft., $30 million facility would sit between the college residence and the automotive building. It would house research space, labs, and multi-use classrooms for 800 new students.

"This is just going to be a real tremendous opportunity to put our students in front of equipment that will be leading edge technologies and get us ahead of the curve,” says Georgian College president and CEO MaryLynn West-Moynes. "It brings the business and industry and academia into the same space."

The college is applying for federal funding to cover almost half the cost. The County of Simcoe has committed $5 million.

On Monday night, Barrie city councillors gave initial approval for a $5 million investment.

"This one in particular has a direct impact on our economy and our industries and our job situation because this is a research and development space for Barrie companies to continue partnerships with the college,” says Barrie Mayor Jeff Lehman. “It's a way for us here in Barrie to help develop new products to help grow our industries directly."

The money would come from the capital budget and spread over four years.

As part of the agreement with the city, Georgian would move some of its fine arts programs into a space somewhere in the city's downtown core.

"It’s a real value add, almost like a living laboratory to be in the downtown core, have some front store space where they can sell their products," says West-Moynes.

Barrie councillors will consider final approval for the $5 million at its meeting on Monday.

"That's going to have a great deal of benefit not just for the businesses in the area, but for the broader community as they see some of the talent that's on display in that school in the core,” says Lehman.