INVESTMENT LEADS TO HIGH QUALITY JOBS
Content editor A £7m investment which could bring “50 high quality jobs” to Teesside has won the backing of politicians.
Technology giant Fujifilm will receive the financial backing which will aid the development of its Diosynth Biotechnologies’ £14.5m BioCampus project at its site in Billingham.
Those behind the scheme say in addition to the jobs it is also expected to lead to add £4m per year to the regional economy.
The proposal was approved by the Tees Valley Mayor and the Tees Valley Combined Authority Cabinet on Friday.
The Combined Authority has pledged a total of £7.062m for the £14.5m scheme.
Match funding of £5.437m has been provided by Fujifilm, with a further £1m from Tees Valley Business Compass capital grant support scheme, and £1m from the Local Growth Fund.
The development will see the creation of 4,000sqm of highspecification office space which could also be converted into laboratory space, primarily used for manufacturing and business support for the existing 250 staff.
Tees Valley Mayor Ben Houchen, who chairs the Combined Authority, welcomed the move.
He said: “Fujifilm’s Billingham plant is going from strength to strength.”
He added: “It provides wellpaid jobs for local people, and there is huge potential to expand this valuable asset even further.
“In May I led a delegation as part of the Tees Valley’s first trade mission to the Far East, where I met some of Fujifilm’s top executives in Japan to thank them personally for putting their faith in our economy, and outlined the f a n t a s t i c opportunities for growth in this region.
“I’m pleased these plans have come to fruition and this multinational company and household name, which plays such an important role in the Tees Valley, has again shown confidence in our region.
“I look forward to work- ing with them in the future to grow their business even more.”
Councillor Bob Cook, Stockton Council Leader and cabinet member of the Combined Authority, was alos delighted with the move.
He said: “Fujifilm Diosynth is central to our flourishing health and biologics sector in the Tees Valley.
“This funding could unlock further investment from the business, driving forward more jobs and economic growth, as well as highlighting the region as a global leader in the field.” COUN BOB COOK
M e a n - while, Paul Found, chief o p e r a t i n g officer at F u j i f i l m D i o s y n t h Biotechnologies, Billi n g h a m , e x p l a i n e d the firm’s t h i n k i n g behind the move.
He said: “Our operations in the Tees Valley continue to provide a foundation for the growth of Fujifilm Diosynth Biotechnologies as a leading provider of development and manufacturing services in the global biotechnology sector.
“We are delighted that the Mayor and TVCA support our mission to advance tomorrow’s medicines and provide truly life changing therapies to patients world-wide.
“The TVCA funding reinforces our internal investment strategy that seeks to further develop and grow our organisation with formal conclusion of the BioCampus Phase 1 funding approval anticipated in January 2019.”
Fujifilm Diosynth’s biopharmaceutical science and technology operations have seen considerable growth in the region, expanding its Stockton site over the past 20 years, from 90 employees to about 600 today.
Last year, it opened a £7m stateof-the-art biotech facility at Redcar’s Wilton International.
The company eventually hopes to create a thriving bioscience campus, with a phased master plan for the creation of this.
Phase one will be supported by this cash and the vision for two further phases could see the creation of a further 200 jobs, adding even more value to the economy.