Sci-Tech Daresbury is playing a significant role in boosting the UK’s economy. A recent report has highlighted the economic and societal impact that this science and technology park is generating.
According to a study by the Science and Technology Facilities Council, Sci-Tech Daresbury contributes an estimated £163 million to the national economy, underlining its status as a key player in the science and innovation sector.
Economic Impact and Jobs Creation
Sci-Tech Daresbury’s economic value was meticulously measured during the 2014/15 financial year by the Science and Technology Facilities Council. It revealed that the park generates a substantial £163 million for the UK economy, proving to be a catalyst for significant investment and employment opportunities.
Situated in the Liverpool City Region, Sci-Tech Daresbury has been instrumental in creating nearly 900 jobs on-site and supporting a total of 2,000 employees across the country. The park’s influence extends beyond mere job creation, fostering a thriving community of science and technology firms.
Driving Innovation in the Northern Powerhouse
Positioned at the heart of the Northern Powerhouse, Sci-Tech Daresbury is recognised for its pivotal role in driving regional innovation. The campus has contributed an estimated £135 million to the North West region, showcasing its ability to stimulate local economic growth.
In addition to its economic contributions, Sci-Tech Daresbury engaged with 38,000 people over three years, including 16,000 students. This engagement underscores its importance in nurturing the next generation of scientists and innovators.
The park’s strategic location and resources continue to attract leading science and technology firms, bolstering the Northern Powerhouse’s reputation as a hub for innovation.
Government Support and Future Projections
The UK Government has acknowledged Sci-Tech Daresbury’s substantial contributions, aligning it with their Industrial Strategy. Investing an additional £2.3 billion in R&D by 2021/22 and increasing R&D investment to 2.4% of GDP by 2027 highlights the government’s commitment to fostering innovation.
Science Minister Jo Johnson has lauded the park’s impact, stating, “Sci-Tech Daresbury’s contribution to the national and local economy is tremendous, and an excellent example of why we’ve put science and innovation at the heart of our Industrial Strategy to boost the competitiveness of the UK economy.”
The report reveals that Sci-Tech Daresbury’s economic value is projected to soar to £660 million by 2040, signifying its enduring impact on the UK’s economic landscape.
Collaborations and Partnerships
Sci-Tech Daresbury operates as a private-public joint-venture partnership between developer Langtree, the Science and Technology Facilities Council (STFC), and Halton Borough Council. This collaborative approach has been instrumental in the park’s continued success.
According to Dr Tim Bestwick, executive director of business and innovation at STFC, the report underscores the growing value of the facilities and expertise at Sci-Tech Daresbury: “As the campus continues to expand, it’s evident that it’s creating real economic and societal impacts, both on a regional and national scale.”
The campus has become a central hub for collaboration and investment, attracting major international companies to establish operations in the North West of England.
Success Stories and Future Ambitions
John Downes, group managing director of Langtree and a board member of the Sci-Tech Daresbury joint venture, remarked on the campus’s long track record of success. The park’s ability to attract leading-edge science and technology firms is a testament to its status as a premier hub for innovation.
An example of this success is the recent addition of Hitachi High-Technologies (Europe) to Techspace One, showcasing Sci-Tech Daresbury’s appeal to international technology giants.
This report solidifies the campus’s ambition to bolster its position as a first-class centre for innovation and collaboration, ensuring continued growth and influence in the science and technology sectors.
Sci-Tech Daresbury stands as a beacon of innovation and economic growth in the UK. Its substantial contributions to the economy and dedication to fostering science and technology highlight its vital role in shaping the future.
As it continues to attract top-tier companies and expand its influence, Sci-Tech Daresbury’s impact on both the regional and national scale is set to grow even further. Its journey is a testament to the power of innovation in driving economic and societal progress.