DiagnosticsFirst Minister Announces Funding For Second Phase Of Life Sciences Institute, Wales
First Minister Rhodri Morgan announced (date) that almost ÷£30 million of funding has been secured for phase two of the Institute of Life Science at Swansea University, with the promise of up to 650 jobs.
The Welsh Assembly Government is providing ÷£8.5 million towards the cost of the project, which will also receive ÷£12.8 million from the European Regional Development Convergence Fund, ÷£6.4 million from Swansea University and ÷£1 million from Abertawe Bro Morgannwg University NHS Trust.
Phase two of the Institute will include a clinical research centre and will also play a major role in developing new products and services for the healthcare industry.
The first phase of the Institute, which opened in 2007, already boasts state-of-the-art laboratories researching areas such as cancer, obesity and diabetes.
First Minister, Rhodri Morgan, said:
"This massive announcement in the knowledge economy in Wales shows that we are not just seeking to survive this recession; we are also positioning Wales in the right place to be competitive in the upturn, when it comes."
The Welsh Assembly Government is keen to facilitate and encourage collaboration between business and our world-class universities. With the second phase of the Institute of Life Science we can further develop and support the growing Life Science knowledge cluster in south west Wales, the UK and around the world."
Deputy First Minister, Ieuan Wyn Jones, welcomed the announcement:
"This is a major boost for the economy of south west Wales as well as a significant step forward for research and development. This new phase of the Institute will not only create new jobs in the region but it will also have the ability to support hundreds of businesses through technology and research."
Health Minister, Edwina Hart, added:
"This demonstrates the importance we place on medical research and the benefits it can deliver. The work at the Institute of Life Science complements the on-going studies and developments at the National Institute for Health and Social Care Research which was established earlier this year as part of the Welsh Assembly Government"s commitment to support and stimulate health and social care research to improve the health and well being of people in Wales."
Vice-Chancellor for Swansea University, Professor Richard B. Davies, said:
"This announcement is hugely significant for Swansea University. The recent UK Research Assessment Exercise showed the high quality of research in the vibrant Institute of Life Science. The new funding will allow the School of Medicine to build upon this success, increasing the scale of activity to create a globally competitive centre of excellence in life science research. The whole region and beyond will benefit from the resulting advances in medical practice and through the development of a cluster of high-technology life science companies."
Acting Chief Executive of Abertawe Bro Morgannwg University NHS Trust, Calum Campbell, said:
"The Trust is delighted with this announcement as it underlines the important role of research in pushing forward excellence in healthcare. The Trust and Swansea University have formed a close partnership which is built on this belief, and this second phase of the Institute of Life Science is very important."
Welsh Assembly Government