A new Life Science Enterprise Zone has been awarded to the Greater Manchester Local Enterprise Partnership (LEP) by the Department for Communities and Local Government (DCLG)
The new life science zone will include Manchester Science Partnerships' (MSP) Central Campus and the Clusterlabs site owned by Central Manchester University Hospitals NHS Foundation Trust (CMFT), both located within Corridor Manchester - the largest clinical academic campus in Europe.
The Enterprise Zone will specialise in life sciences and CMFT said will promote the continuing development of a leading innovation cluster within the North West's life science sector.
The new Life Science Enterprise Zone will join the existing Greater Manchester Enterprise Zone at Airport City, which includes Medipark.
Mike Blackburn, chair of the Greater Manchester LEP, said: "This Enterprise Zone will provide a welcome boost to the life science sector in Greater Manchester.
“It will attract top rate life science companies to the area and help make Corridor Manchester one of the top innovation districts in Europe.”
Richard Leese, leader of Manchester City Council, said: "The Life Science sector is one of our distinctive strengths and the creation of this new Enterprise Zone can only help it flourish further.
“Manchester has a long and proud tradition of innovation and cutting edge life sciences research has the potential to improve lives as well as create jobs and attract further investment."
Chris Oglesby, MSP chair and Corridor board member, said: "Life sciences are recognised as vital to the growth of the UK economy and our region has a number of competitive advantages to drive future growth in this sector - from physical infrastructure through to its supply chains, skills and knowledge base.
“Locating the Life Science Enterprise Zone in the Corridor Manchester innovation district, together with our Alderley Park site which forms part of the successful Cheshire Science Corridor Enterprise Zone, reinforces the North West as a destination for life science investment and business growth."
Mike Deegan, chief executive of CMFT, said: "This Enterprise Zone will attract innovative life sciences companies to our campus, enabling us to work with them to develop new solutions for diagnostics, treatments and care.
“Our location on Corridor Manchester at the heart of a growing regional life sciences cluster allows us to work with our Corridor partners to create a compelling offer to companies to establish and grow their businesses here.
“The life science cluster located on Corridor, is part of a wider health economy that will deliver economic benefit alongside improvements to health and wellbeing for people across the city region."