Life sciences recognised as key sector in London Growth Plan
London Growth Plan highlights the key role of the life sciences sector in growing the economy, building skills, and improving healthcare.
Today at Imperial College London, leaders from across government, business, education, and communities came together to back a shared vision for sustainable, inclusive growth in London.
Developed by the Mayor of London, London Councils and London & Partners - in collaboration with businesses, trade unions and London’s communities - the London Growth Plan sets out a blueprint to kickstart the capital’s productivity. The plan positions London’s life sciences at the forefront of growing London’s economy.
The Plan aims to restore productivity growth to an average of two per cent a year over the next decade, making London’s economy £107bn larger in 2035, and to help create over 150,000 good jobs by 2028.
Priorities in the London Growth Plan include developing key ‘industrial innovation corridors’ around the capital. This includes the WestTech Corridor, which is anchored by major west London science and innovation locations in South Kensington, Paddington Life Sciences, White City Innovation District and Old Oak and Park Royal.
Paddington Life Sciences is a growing life sciences hub led by Imperial College Healthcare and based around St Mary’s Hospital.
A consortium of innovation clusters from across London, including Paddington Life Sciences, have welcomed the placing of London’s life sciences at the forefront of the plan for London’s economic growth – and are already working collaboratively to meet many of the goals laid out in the new Growth Plan.
Dr Suki Balendra, director of strategic partnerships at Paddington Life Sciences, said:
“We welcome the recognition that the life sciences sector is a key part of the strategy for investment and growth in London’s economy. In Paddington, we have an exceptional opportunity to make a significant contribution to economic growth through the expansion of Paddington Life Sciences at the same time as redeveloping St Mary’s Hospital.”
Speaking at the launch event, Professor Hugh Brady, president of Imperial College London, said:
"The WestTech Corridor, anchored by Imperial College London, will be central to delivering the Mayor's ambitious London Growth Plan, driving a vibrant innovation ecosystem in West London and acting as a powerful engine for investment, economic growth and job creation across the UK and the wider world."
