Cambridge Biomedical Campus, which celebrates its 60th anniversary this autumn, has proved an economic powerhouse for the Cluster and UK economies as well as providing a home for world-leading companies and research.
An economic impact report released this week by the Centre for Economics and Business Research (Cebr) for the first time calculates the economic benefits of CBC and highlights the health and research benefits for the region.
The campus has supported an aggregate footprint of £2.2 billion worth of Gross Value Added to the UK economy. As well as being the largest employment site in Cambridge, over 15,000 additional roles are supported across the regional supply chain and local businesses.
For every 10 jobs directly generated by organisations on the CBC, a further 2.7 jobs are supported within Cambridge City and South Cambridgeshire; one in every six jobs in the local authority areas are either directly or indirectly supported by the campus.
The new research also shows that employment on site is growing much faster than the rest of the UK and that £721 million is spent by employees across the regional economy.
Looking at the wider economic picture, the research highlights that in 2021 the site reported a collaborative operating income of £1.9bn as well as contributing £291m to the Exchequer through tax revenues.
A series of events is planned to celebrate the success of the campus’ 60 years and reveal more about the globally significant research that goes on at CBC.