The Greater Manchester Local Enterprise Partnership has been awarded a new Life Science Enterprise Zone by the Department for Communities and Local Government.
The new Enterprise Zone will promote innovation within the North West’s Life Science Sector – a sector heralded by Osborne as one of the three vehicles to drive his Northern Powerhouse initiative. Acting as a catalyst for new businesses, the new Enterprise Zone will allow the LEP to reinvest business rate growth and attract investor attention.
“This Enterprise Zone will provide a welcome boost to the Life Sector in Greater Manchester”, says Mike Blackburn, chair of the Greater Manchester LEP. “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”.
Rowena Burns, MSP chief executive, was similarly enthusiastic: “The additional jobs created as a result of the Life Science Enterprise Zone will be of high value, in a priority economic sector with the potential to benefit not just Greater Manchester but UK plc as a whole. It will deliver immediate financial and economic benefits”.