Chancellor George Osborne unveils £5m boost for bioscience at Alderley Park

The leader of Cheshire East Council, Michael Jones, has welcomed the news that the bioscience industry at Alderley Park is seeing further investment.

Chancellor George Osborne revealed a £5m fund to revitalise a new pharmaceutical and technological research programme after visiting the facility this week.

It is hoped the programme will stimulate Alderley Park’s economic recovery and be key to the bioscience aspect of the Northern Powerhouse vision.

Councillor Jones commented: “This is fantastic news for Cheshire East and Alderley Park and demonstrates the confidence this government has in the work that we are all doing here in the Borough and in Manchester towards the rebuilding of science and medical research in the North West.

“This also represents a great boost to startups and small businesses who need that extra financial leg-up and expert resource to help them on their way. This will also lead to more jobs and growth and we are determined to achieve our ambition to create 7,000 new jobs in the coming years.”

He added: “Two years ago some were in the depths of despondency after AstraZeneca announced its withdrawal from Alderley Park. Now we can smile again and look forward to a bright future on the world stage.”

The funding is part of a £69m investment into what the Chancellor has termed ‘catapult’ projects.

Mr Osborne said: “To make the most of Britain’s leading expertise in science and innovation, we must back ideas at every step of the way.

“This will help put the UK in a world-leading position to support every single stage of the life sciences innovation life cycle and is exactly what is needed to develop the next generation of unbeatable British leaders in this area.”

Cheshire East Council currently has a 10% stake in the Manchester Science Partnership, which is building on Alderley Park’s global reputation as a hub for research and development in bioscience and life sciences.