Blackstone to invest £850m and create 2,700 jobs in the UK

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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 UK is one of the best places in the world to do business, and we see meaningful opportunity for long term investment.

“That includes today’s announcement in the life sciences sector, where we want to help cement the UK’s place as a global leader in life sciences and technology, including vaccine development.”

The Prime Minister added:

“The success of the UK-US trade partnership reflects the deep closeness between our countries and people.

“It’s no surprise that when American companies look to expand and collaborate internationally they so often look to the UK, and vice versa. Every American dollar spent in the UK is creating jobs around the country and boosting the UK’s reputation in crucial and highly-skilled areas like health and scientific research.”

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. 

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