Nottingham is one of 12 Enterprise Zone bids shortlisted to complete critical ‘nuts and bolts’ infrastructure that will turn dormant sites into prime economic land, attracting new businesses and jobs.
Nottingham will receive up to £5.5m to unlock the MediPark health science site by decontaminating land, building an access road, enhancing flood protection, and building a new pedestrian footbridge. When complete, the 20,500 square metre project will employ up to 900 people, and develop the next generation of medical innovation.
David Ralph, Chief Executive of D2N2, the Local Enterprise Partnership for Derbyshire and Nottinghamshire, said: “This funding is an important boost to the Nottingham Enterprise Zone.
“MediPark will be a key site for new private sector jobs in Nottingham and will focus on attracting growing firms in the medical and bio-science sector, where we have the heritage, skills and innovation to lead the way.
“D2N2 and partners will use this investment from government to accelerate the development of MediPark to deliver jobs and growth.”
Deputy Leader of Nottingham City Council, and Portfolio Holder for Resources and Neighbourhood Regeneration, Councillor Graham Chapman, commented: “The city has been working on this project for a number of years.
“The aim is help us establish a centre for medical research and innovation which has an international reputation, which improves medical services in the city and which creates high quality jobs.
“There is still some way to go but, with the new partnership between the city, the D2N2 Local Economic Partnership who submitted the bid, Nottingham University, and the Nottingham University Hospitals Trust and with this important announcement, we are on our way. It is also worth remembering how important the new tram link has been in the progress to date. I would like to thank all involved in getting us this far.”
The Nottingham Enterprise Zone extends over 100 hectares and is made up of four components: the Alliance Boots Campus, No.2 Nottingham Science Park, Medipark and Beeston Business Park
The Boots Campus and Medipark developments are seeking to become the UK’s centre for innovation in life sciences, medical research, health, beauty and wellness with Beeston targeting telecoms and high tech businesses and the Science Park advanced manufacturing/engineering and clean tech activities.
With 8000 jobs already on the Boots site, the Zone hopes to create 10,000 new jobs by 2025.
The other successful sites are Harlow, Humber, Leeds, Sheffield, Discovery Park in Kent, Oxford, Daresbury, Alconbury, London’s Royal Docks, the Black Country, Nottingham and the Solent.
Across the country, the funding for road building, refurbishment, utility supply and land clearance will mean that 3.5 million square metres of land is brought back into use and 124,000 square metres of new commercial floorspace will be created by 2015. In addition 10km of new road and two new bridges will be constructed, reducing congestion for residents and increasing the access to new Enterprise Zone sites for business.
Enterprise Zones have already attracted 250 businesses, secured £1.1 billion of private sector investment and created over 7000 local jobs.
In addition from today universities in Birmingham, Bristol, Leeds, Liverpool, Manchester, Newcastle, Nottingham and Sheffield can bid for part of a £15 million fund to establish University Enterprise Zones. This will strengthen the role of higher education in supporting local growth and innovation.
The funding will also lead to the development of new business spaces within universities. These spaces will host a range of start up, high-tech companies, that can benefit best from universities’ expert knowledge.