Minister of State for Universities and Science, David Willetts, confirmed the Government's support for this new public-private partnership comprising the Science and Technology Facilities Council (STFC), Halton Borough Council, the North West Development Agency (NWDA) and private sector property investment development company, Langtree.

The 20-year joint venture creates a 50:50 partnership between the public and private sectors and will bring more than 6,000 jobs to the area during its lifetime, attracting further domestic and international positive inward investment in world class scientific research and innovation.

Confirming the joint venture, David Willetts said:

"Science, technology and innovation can play a crucial role stimulating the economy. This great facility at Daresbury is an excellent example of this.

"Daresbury has a long heritage of providing cutting edge and innovative science. This development will not only strengthen the science base at the campus, it will also drive up inward investment and increase the economic impact of science through business access to a broad range of scientific capability and facilities. Teamed with international collaboration, this model of open innovation will lead to the creation of new technologies, products and services, new businesses, and new jobs that will benefit all aspects of UK society."

Under the agreement, STFC will contribute involvement in major public sector science programmes and a proactive approach to ensuring fundamental research can be harnessed and exploited by innovators, entrepreneurs and industry. Langtree will develop 1 million square foot of space for science and innovation facilities, hi-tech businesses and supporting infrastructure for the Campus, which has already benefitted from over £67m investment from the NWDA.

The Daresbury Science and Innovation Campus is home to STFC's Daresbury Laboratory, The Cockcroft Institute and the Daresbury Innovations Centre, which already hosts more than 100 high tech companies, most of which are SMEs looking to find innovative solutions to global challenges including energy, healthcare, security and the environment.