Cr Coughlan says the ATI is exactly the sort of major development the Council's Economic Development Strategy has set out to attract.
"The whole thrust of our Economic Development Strategy is to create a business environment where innovation can flourish," says Cr Coughlan.
"The focus of our strategy and the ATI are the same - to give smart firms access to the resources they need to grow.
"We are working hard to encourage links between Wellington's tertiary education and research institutions and the business community which will allow creative businesses to prosper and enhance our reputation as the smart capital."
The Establishment Board for the government's Advanced Technology Institute (ATI), which identifies the Wellington region as one of the three key locations for the institute, was announced today.
The purpose of the ATI is "to support firms in the manufacturing and services sector to improve competitiveness and growth through science and technology-based innovation and its commercialisation."
Wellington is already home to a number of innovative firms, including PhotoHigher (design and manufacture of vertical take-off unmanned aircraft systems), Dragonfly Science (data analysis), Provoke (online solutions), GreenButton (transition software applications to the cloud) and Sidhe (computer game development studio).
The Establishment Board is aiming to have the ATI operational by December 2012.