Life Sciences
Why is it a natural fit for Huntingdonshire?
The region is ideally placed for Life Sciences businesses who need to be close to the Cambridge Life Science cluster and provides a natural spill-over for venture-backed companies seeking expansion space at a lower operating cost to demonstrate value to their shareholders. Our existing cluster includes diagnostic, drug development, manufacture of reagents, clinical research services and remote monitoring systems to name a few.
Access to Market
Growth in the life sciences cluster around Cambridge has been one of the key sectors driving above average growth of corporate employment in the Cambridge city region (within 20 miles of the city centre). In the height of the pandemic (April 2020 to March 2021) the life sciences cluster grew employment by 10.3% in 2020/21. This strategically vital sector for the UK economy is thriving and with this comes significant benefits for regions like Huntingdonshire which are adjoined and within this 20 mile radius of the cluster. Huntingdonshire is already home to over 60 companies in the Life Sciences sector, many of whom have chosen to locate in close proximity to the cluster for access to their customers, but with wider choice of mixed industrial and office facilities at cheaper per sq ft rents than in the cluster itself.
And as the market moves ever closer towards personalised medicine, there will be a growing need for manufacturing facilities and other support services in close proximity to R&D locations but with very different property and staffing requirements – something that Huntingdonshire is ideally placed to deliver.
Access to Labour & Knowledge
The key market towns of Huntingdon, St Ives and St Neots are all less than 20miles from one of the world’s most important centres of research, the University of Cambridge. The talent which is naturally attracted to this globally significant life science hub permeates not only Cambridge but the surrounding area too. Halifax research in 2021 shows that the average cost of home in Cambridge is 11.9 times people’s average earnings. The scientific talent pool is choosing to live in places like Huntingdonshire to benefit from the less expensive, yet equivalent housing in our bustling market towns.
In addition, there is already a substantial volume of people working in the Life Science and Healthcare sector of the Huntingdonshire economy – estimated at approximately 1,500 and growing at over 10% per annum.
Access to Labour & Knowledge
The key market towns of Huntingdon, St Ives and St Neots are all less than 20miles from one of the world’s most important centres of research, the University of Cambridge. The talent which is naturally attracted to this globally significant life science hub permeates not only Cambridge but the surrounding area too. Halifax research in 2021 shows that the average cost of home in Cambridge is 11.9 times people’s average earnings. The scientific talent pool is choosing to live in places like Huntingdonshire to benefit from the less expensive, yet equivalent housing in our bustling market towns.
In addition, there is already a substantial volume of people working in the Life Science and Healthcare sector of the Huntingdonshire economy – estimated at approximately 1,500 and growing at over 10% per annum.
Access to Transport Network
Huntingdonshire is a key arterial region that has seen significant, recent investment in its road infrastructure. The 2020 £1.5n upgrade to the A14 between Huntingdon and Cambridge has made the routes to Cambridge, Peterborough, London and key international ports, such as Felixstowe, and airports much faster. The region also sits on high speed and accessible passenger and freight rail links to the London and the North. There is also an established guided bus link from Huntingdon and St Ives directly into Cambridge city centre.
This vital infrastructure enables Life Science Service and Support companies to locate outside of the cluster, where it is more affordable, but travel to their customers in the cluster easily, as well as attract the talent they need to travel to and from work, whether they live in close proximity or a bit further afield.
Fit with UK Strategy
The UK is looking to take the lead in cutting-edge technology and revolutionary research, leading the race to a net zero economy. The Life Science Service and Support sector provides critical operational and business support solutions for some of the most vital industry sectors that the UK government is focused on to provide growth in the UK economy such as: Biopharmaceuticals, Healthcare and life sciences and MedTech.
The Economic Development Team for Invest in Huntingdonshire are constantly horizon scanning for funding and skills support that can be utilised to assist the growth of the Life Science Service and Support sector in the region and facilitate the success of the key sectors of focus for the UK economy.
Fit with UK Strategy
The UK is looking to take the lead in cutting-edge technology and revolutionary research, leading the race to a net zero economy. The Life Science Service and Support sector provides critical operational and business support solutions for some of the most vital industry sectors that the UK government is focused on to provide growth in the UK economy such as: Biopharmaceuticals, Healthcare and life sciences and MedTech.
The Economic Development Team for Invest in Huntingdonshire are constantly horizon scanning for funding and skills support that can be utilised to assist the growth of the Life Science Service and Support sector in the region and facilitate the success of the key sectors of focus for the UK economy.
Life Sciences Data & Insights
A growing community
Huntingdonshire has already attracted a cluster of diagnostic, drug development, manufacture of reagents, clinical research services and remote monitoring systems companies that are supporting UK life sciences.
Profitable businesses
Life Sciences businesses located in Huntingdonshire are thriving with an average annual turnover growth of 20%.
Close proximity to major research centre
Huntingdon, St Ives and St Neots are all situated less than 30 mins drive from both the University of Cambridge and the Cambridge Biomedical Campus – home to the likes of AstraZeneca.