Discovery Park driving forward growth

Discovery Park Enterprise Zone is playing a vital role in driving forward the economy, creating hundreds of jobs and building a reputation as a centre of excellence for life sciences, Communities Secretary Eric Pickles has announced.

Figures released today (Wednesday 12 November) show the Government's 24 enterprise zones have created 12,530 jobs, attracted 434 new businesses and generated over £2 billion worth of private investment since opening for business.

As one of the largest business parks in Europe, Discovery Park has played a vital role in that success story, creating hundreds of jobs and safeguarding 800 more. More than 95 businesses have joined the zone's pharmaceutical innovation and business community, cementing its reputation as a world-class site for science and technology.

Communities Secretary Eric Pickles said: "The importance of Discovery Park cannot be underestimated. This thriving enterprise zone is not only creating hundreds of jobs, but is supporting companies as they search for the medical breakthroughs that will make a real difference to people's lives. That is why we have invested Â40 million developing the zone. It's further proof that enterprise zones are delivering, creating jobs, driving forward local economies and bringing benefits to communities."

The Government opened the 24 enterprise zones in April 2012 as part of a 25-year project to rebalance the economy, offering tax incentives, simplified planning and super fast broadband.

That vision has provided a major boost to the UK construction sector with work already carried out to redevelop 85 hectares of land and deliver more than 47,000 square metres of new or refurbished floor space.

Discovery Park is providing a real platform for established and emerging science and technology companies to thrive. Benefits include:

  • Research Heritage: Situated on a site once wholly occupied by pharmaceutical giant Pfizer, Discovery Park has been host to five decades of groundbreaking pharmaceutical research and development. Iconic drugs such as Viagra and Diflucan were discovered and developed here, and Pfizer retains a significant presence on the park;
  • World Class Laboratory space: The zone's extensive world-class laboratory facilities are designed around the concept of 'integrated research' for chemical, pharmaceutical and analytical research that will help meet today's and tomorrow's therapeutic and manufacturing needs;
  • Business Community: The zone has a wide variety of business support firms in place: from recruitment, to accounting, to legal services so that companies locating to Discovery Park benefit from its shared services; and
  • Government investment: In January the Government announced a further £5 million of infrastructure funding for the enterprise zone. The additional investment will allow the refurbishing of three buildings creating new space for companies to grow.

More on the Discovery Park's Enterprise Zone

Posted on 13/11/2014