�37million development in Stevenage will provide up to 1,500 jobs
A NEW �37 million science park is to be built in Stevenage, creating up to 1,500 jobs. Business Secretary Lord Mandelson made the announcement today (Tuesday), stating the Bioscience Campus on the GlaxoSmithKline site on Gunnels Wood Road will act as a wo
A NEW �37 million science park is to be built in Stevenage, creating up to 1,500 jobs.
Business Secretary Lord Mandelson made the announcement today (Tuesday), stating the Bioscience Campus on the GlaxoSmithKline site on Gunnels Wood Road will act as a world-leading centre for innovation in biotechnology and drug development.
The campus will house about 25 companies, creating up to 1,500 high-skilled jobs, and there are plans to increase capacity at the park five-fold over the next 10 years.
It will be funded in partnership by the Government, GlaxoSmithKline, The Wellcome Trust, Technology Strategy Board, and the East of England Development Agency.
Lord Mandelson said the campus will "leverage our existing strengths as a world leader in the sector" and "ultimately it will help us build towards a stronger UK economy coming out of the global downturn."
Andrew Witty, CEO of GlaxoSmithKline, said: "This park will provide a supportive environment where scientists in small biotech companies can tap into GSK's management and expertise in drug discovery while remaining independent.
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"This collaboration in turn will stimulate innovation that will help ensure the UK remains a world leader in the research and development of important medicines."
Oliver Heald, MP for North East Herts, said: "I believe this provides an exciting new development for our area. At a time when jobs are scarce, this new campus will build on Hertfordshire's business strengths and the very high quality of our skills base. I wish them well.