American company Blackstone, owned by BioMed Realty plans to announce a £850m investment in the UK creating over 2,700 jobs.
Whilst in the US, Prime Minister Boris Johnson is meeting representatives from a number of American companies about investing in the UK, including Blackstone.
The multi million pound investment will finance 800,000 square feet of new, high-quality, purpose-built lab and office space for the company in Cambridge where employees will focus on creating vaccines, developing new treatments and responding to major global health challenges.
A. Schwarzman, Chairman and Chief Executive Officer of Blackstone said:
The Prime Minister added:
The USA is the UK’s largest trading partner, with total trade reaching £196.3bn in 2020, an increase of over five per cent in the last three years.