Bioscience hub
The difficulties of attracting highly skilled
talent to the north are epitomised by the
bioscience industry where almost half of
all jobs are concentrated within the ‘golden
triangle’ of London, Oxford and Cambridge.
However there are moves to address this
imbalance. Last year the Government
announced plans for two publicly-funded
research centres located at Astra Zeneca’s
former premises at Alderley Edge in Cheshire.
One will focus on medicines technology and
the other on fighting drug-resistant superbugs.
Three years ago Astra Zeneca moved most of
its operations from Alderley to a new centre in
Cambridge, leaving behind a huge talent pool
of drug developers and researchers. Many of
these people have gone on to form spin-out
businesses and more than 150 companies
now use the laboratory space at the park
where owner Manchester Science Park is
also investing £30m to increase office and
laboratory capacity.
The largest company now at Alderley is Redx
Pharma, a drug research company, which is also
moving its cancer drug business from Liverpool
to join the rest of its operations at Alderley.
Redx has received extensive support from
Seneca Partners and Acceleris Capital since
inception, all the way through to its current
status as an AIM quoted business.
Power to transform
Digital technologies, health innovation, energy
and advanced manufacturing have the potential
to transform the North’s economy, adding
£97bn and 850,000 jobs by 2050.
That’s according to the recently published
Northern Powerhouse Independent Economic
Review which identified key capabilities across
the North which could provide the foundations
for closing the productivity gap, generating new
jobs and enhancing global competitiveness.
Transport for the North, a new body that will
have statutory authority for long term transport
investment strategy in the North, commissioned
the review on behalf of the Northern
Powerhouse partners to provide a clear picture
of the economic landscape of the North in a
national and global context and identify the
major opportunities for economic growth.
It found that the North currently produces
£4,800 less GVA (Gross Value Added) per person
per annum and over £22,000 less per person
than London. Yet the region has a population
twice that of the capital.
The review identified “capabilities” in
which the North is a world leader and which
account directly for 30% of the north’s jobs
and 35% of its GVA. These include advanced
manufacturing, digital development, health
innovation and energy. These are in turn
supported by three 'enabling' capabilities
that are vital if growth in these areas is to be
successfully nurtured: education, logistics,
and financial and professional services.
ONSIDE WINTER 2016 |
John Cridland, chairman of Transport for the
North said: “This review clearly identifies
that, if the right investment and focus is put
into these capabilities, and the infrastructure
is there to support them, then 1.56 million
new jobs could be generated by 2050. 850,000
of these will be directly attributable to the
success of the Northern Powerhouse and we
would expect productivity (GVA) to be 15%
higher than currently which, in itself would
represent a major step-change for the North.”
37