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, a key priority sector for economic growth in Greater Manchester, 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 £2.1bn of private sector investment.
Mike Blackburn, chair of the Greater Manchester LEP said:
“This Enterprise Zone will provide a welcome boost to the life science sector in Greater Manchester. Our city is built on innovation and this sector is key for the future of our economy.
“It will attract top rate life science companies to the area and help make Corridor Manchester one of the top innovation districts in Europe. The Greater Manchester LEP is committed to this project and we look forward to seeing the benefits of the investments, business and jobs.”