A £7m cash boost for the Science Vale Enterprise Zone could lead to more investment in the area, it has been claimed.
The money will pay for a 4,000 square metres highly specialised laboratory and bioscience innovation hub that will create 370 new jobs at Milton Park.
Culture minister and Wantage MP Ed Vaizey visited Milton Park yesterday to announce the investment.
He said: “Enterprise zones are at the centre of our long-term economic plans to build a stronger, more competitive business environment and a better future for Britain.
“This funding will give areas the infrastructure they need to attract more investment, support the growth of local businesses and create up to 3,000 jobs for hard-working people.”
And Anna Robinson, strategic director at the Vale of White Horse District Council, said the money would create jobs and investment in Didcot Parkway station.
The money is part of a £100m investment which has been made to support critical business infrastructure in 12 enterprise zones around the country.
James Dipple, managing director of Milton Park, said: “The Government's contribution will help us provide exactly the type of environment which small and growing life science businesses desperately need, located in the heart of Milton Park’s well established hub of 50 life science companies.
“Public-private partnerships such as this, with business investing alongside Government, create opportunities for local employment, national success and healthcare advances which will be used around the world.”