Latest news: GlaxoSmithKline creates 1,000 jobs

The healthcare company, GlaxoSmithKline (GSK) will invest £500m in UK manufacturing, with a new plant in Ulverston in Cumbria and two new sites across Scotland. 23/03/2012

GSK’s CEO Sir Andrew Witty stated, ‘We can confirm that we will build GSK’s first new UK factory for almost 40 years. We are also actively considering other investments in our UK manufacturing network which would create further jobs and reinforce the UK’s international competitiveness as a world leader in life sciences.’

The news comes after the government’s Budget stated that a new ‘patent box’ will be implemented to encourage research and development in the UK. The plan is to introduce a lower rate of corporation tax on profits that are sourced from UK-owned intellectual property.

Prime Minister David Cameron said, ‘This is excellent news, a major investment that will create many highly skilled jobs and provide a great boost to the economy. We have a world class life sciences industry, and I am determined not just to keep it here in the UK but significantly increase it too.’

GSK currently employs around 15,000 people in the UK, including 6,000 in manufacturing. They have also recently announced plans to reimburse 100% of uncapped tuition fees starting in 2015, for all students employed under the company’s graduate scheme.