The Department for Communities and Local Government (DCLG) has awarded a new Life Science Enterprise Zone to the Greater Manchester Local Enterprise Partnership.
The new zone will include two strategic employment sites, Manchester Science Partnerships’ Central Campus and the Clusterlabs site owned by the Central Manchester University Hospitals NHS Foundation Trust (CMFT), both located within Corridor Manchester – the largest clinical academic campus in Europe.
The Enterprise Zone will specialise in life sciences, and will promote the continuing development of a leading innovation cluster within the North West’s life science sector.
Enterprise Zones offer incentives to attract new businesses, making it easier for them to locate there and generate jobs and growth. They also act as catalysts for new businesses, allowing the local LEP to reinvest business rate growth into the zones to attract additional investment.
The new Life Science Enterprise Zone will join the existing Greater Manchester Enterprise Zone at Airport City, which includes Medipark, increasing the region’s pull for businesses and investors. In the past three years, the 24 existing Enterprise Zones report that they have attracted more than 15,500 jobs, over 480 businesses and £2.1 billion of private sector investment.
Chris Oglesby, MSP chair and Corridor board member said: “Life sciences are recognised as vital to the growth of the UK economy and our region has a number of competitive advantages to drive future growth in this sector – from physical infrastructure through to its supply chains, skills and knowledge base. Locating the Life Science Enterprise Zone in the Corridor Manchester innovation district, together with our Alderley Park site which forms part of the successful Cheshire Science Corridor Enterprise Zone, reinforces the North West as a destination for life science investment and business growth.”