Manchester Unveils $2.3 Billion Science and Technology Hub

Manchester inaugurates the first phase of a $2.3 billion innovation district, 'Sister,' aimed at bolstering the city's status as a science and technology hub. This university-private sector partnership features significant commercial space and new homes, with the first tenant moving in this November.

Manchester has officially opened the initial phase of a $2.3 billion hub dedicated to science and technology companies. The project, known as 'Sister,' is situated on the former North Campus of the University of Manchester and aims to provide 2 million square feet of commercial space along with 1,500 new homes.

This large-scale initiative is part of a broader trend where university cities like Oxford, Cambridge, and Manchester create environments conducive to private-sector investment in startups. The Labour government supports this trend to enhance the country's public services and infrastructure.

The first tenant, Sustainable Ventures, will move into the Renold Building in November, marking a significant milestone for Manchester. The 'Sister' project is backed by the Greater Manchester Investment Zone, which plans to use 160 million pounds of public funds to attract businesses over the next decade.

(With inputs from agencies.)