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£99m boost for Oxfordshire space technology

Oxford Commercial Property Consultancy News

Oxford Commercial Property Consultancy.

£99m boost for Oxfordshire space technology

Amy Williams

Major new investment in the Harwell science and innovation campus in Oxfordshire will help the county meet its 2031 target of 85,600 new jobs.

According to Thames Valley Property "the Government has pledged £99 million of funding for Harwell which employs many of the 12,000 people working in the space sector and space-related technologies. The money will fund a new National Satellite Testing Facility (NSTF) which is due to open in 2020 (see image). Between 3,500 and 10,000 satellites are due to be launched by 2025 and the UK wants to capitalise on the growth.  

Local Enterprise Partnership OxLEP believes it will attract more industry professionals from other areas to the county which has a booming science industry.

OxLEP chief executive Nigel Tipple said: “It’s this kind of investment that also supports a strong Oxfordshire economy and, as a county, gives us the ability to make substantial progress in meeting a 2031 target of 85,600 new jobs.

“Already, Oxfordshire has seen the creation of 45,000 new jobs over the last five years.”

He said it offers further ‘standout locations’ on the doorstep which have a positive effect on the UK economy as a whole.

* Cobalt Light Systems has signed a pre-let for23,500 sq ft at Harwell, quadrupling its current space at Milton Park. The company, recently acquired by Agilent Technologies, also has the option to expand into a further 6,500 sq ft in the future.  

Read the full article here.

Source: Thames Valley Property No 77 (tvproperty.co.uk)
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