Research labs get £70m in Budget
- 23 March 2011
- From the section Cambridgeshire
Two East Anglian research facilities are to benefit from £70m in Government grants, the chancellor has announced.
Babraham Research Campus, near Cambridge, will get £44m and Norwich Research Park £26m to stimulate new businesses and create jobs.
Both centres specialise in biotechnology and biological research.
The money will be used to attract major firms and support plans to create 5,000 new jobs in the Norwich area over the next decade.
The money will come from the bank levy, a tax on the value of debts of UK banks.
Norwich Research Park is a collaboration between six institutions, including the University of East Anglia, the John Innes Centre and the Institute of Food Research.
It will spend its share of the money on making the park more attractive to prospective investors.
It will also be used to expand office and laboratory facilities for new small and medium-sized businesses at the park.
At Babraham funds will be invested in infrastructure and capital development and to modernise existing facilities to encourage new businesses.
It will also be used to provide accommodation, allowing visiting scientists to collaborate with researchers at the site.
The Daresbury Science and Innovation Campus in Cheshire and the Research Complex at Harwell, Oxfordshire, will also share £30m.