Rt Hon Rachel Reeves, MP, Chancellor of the Exchequer, has endorsed the Park’s £3 billion masterplan, describing the expansion as “exactly the kind of long-term, high-value investment the Oxford-Cambridge Growth Corridor was made for.”
The plans will see the Park triple its capacity over the next 30 years, supporting around 20,000 new highly skilled jobs and reinforcing Cambridge’s global reputation for science, technology and innovation.
Backing the expansion, the Chancellor of the Exchequer said the Oxford-Cambridge Growth Corridor already hosts some of the world’s leading companies, top talent and groundbreaking research, and has the potential to become the “Silicon Valley of Europe”, contributing £78 billion to the UK economy by 2035.
She said the Government is committed to unlocking that potential by tackling barriers to growth, including poor connectivity and constraints on development.
Her endorsement marks a major vote of confidence in Cambridge Science Park’s long-term vision and the role the Oxford-Cambridge Growth Corridor can play in driving innovation, investment and economic growth across the UK.
To read her comments in full click here
The announcement has also generated widespread media coverage, including national reporting in the Financial Times and regional interviews with ITV Anglia and BBC Radio Cambridgeshire.
Image: Jane Hutchins, Director of External Affairs, being interviewed by ITV Anglia at The Bradfield Centre.