Chancellor of the Exchequer, George Osborne MP, today (24 July 2014) welcomed the announcement by RB (Reckitt Benckiser) to invest £100 million in its consumer health R&D (research and development) operations, with the creation of a state of the art Centre of Scientific Excellence to be based in the UK.
The announcement, which will secure over 1200 jobs and create new opportunities, was made as part of the Chancellor’s visit to RB’s major manufacturing site for consumer health and pharmaceutical products in Hull.
The project which has been supported by a £6m grant from the UK Regional Development Fund will include the development of a major new building on the site equipped with state of the art consumer health laboratory facilities; as well as the development of other existing buildings to create a modern meeting and office environment designed to encourage innovative discussion and thinking.
Work has already begun on the design and planning aspects of the project and RB expects building work to start early in 2015 with the new Centre of Technical Expertise to be fully operational by early 2018.
Chancellor of the Exchequer, George Osborne, said:
RB is a great British success story and their decision to invest in the UK is testament to the steps this government has taken to make Britain open for business.
A key part of our long term economic plan is making the UK a world leader in science and innovation, and the new state of the art Centre of Scientific Excellence will help us deliver this, giving greater economic security for hardworking people.
RB Global CEO, Rakesh Kapoor, said:
Growing our global consumer health business is at the heart of our vision to provide innovative solutions for healthier lives and happier homes. The availability of effective self-medication is a critical part of the growing socio-economic need to help individuals manage their health; and this is more than just a major investment for RB.
It is a statement of intent to change the game in consumer health. It not only shows the importance we place on innovation, but also underlines our faith in the UK as a place to invest in technical expertise and in consumer health R&D.