A PROJECT that would become an integral part of the "exciting life sciences investment" in St Helens is set to be considered at Cabinet next week.

Councillors will be asked to decide whether to invest £1.1million into the Project Halo development.

This would take up the "prime space" between Glass Futures and James Roby Way as part of the growing St Helens Manufacturing and Innovation Campus.

Project Halo aims to bring forward a life sciences development that has potential to employ more than 300 people in four high-quality 'TechBox' - laboratory/ innovation/ manufacturing/storage - spaces, the council adds.

Furthermore, the local authority says that will help to address the borough’s productivity gap and support the delivery of the council’s Borough Strategy and its Inclusive Growth Strategy

According to the council, the funding would go towards bringing forward plans for the site and its development for end users.

The plans are seen as a key part of the Liverpool City Region Life Sciences Investment Zone, being one of its three designated tax sites offering financial benefits to businesses relocating and expanding in the area.

The report states: “The Liverpool City Region Life Sciences Investment Zone presents an opportunity to crystalize the region’s world-leading strengths and capabilities in life science and complementary specialisms.

"It also aligns with St Helens growing innovation capabilities and will build on the borough’s advanced manufacturing strengths.

“The sites local and strategic context is important, close to the soon-to-be transformed St Helens town centre, with excellent rail and road connectivity and with a relevant accessible skilled workforce.

"The adjacency to Glass Futures and Sina Medical Glass also positions it well for specialist advance manufacturing and its Hynet connectivity provides a unique opportunity for the future use of alternative energy sources.

“There has been a 50 per cent growth in life science jobs in the borough over the last five years, with Inovus Medical being a prime example, and further growth in the manufacturing, scientific and technical sectors is expected.

"We are aware of several local companies with significant growth potential that will require new specialist premises in the short to medium term.

"For this reason, and supported by the CBRE UK Market Analysis, it is considered that demand exists, and the time is right for this type of high-quality development in St Helens to support the delivery of both the Borough Strategy and the Inclusive Growth Strategy.”

The cabinet will make the decision whether to approve the funding at their meeting on Wednesday, November 20.

A St Helens Investment Zone Tax Site offers the occupiers benefits and aims to unlock significant private investment and create jobs for the region:

These proposed benefits would be:

• 100 per cent discretionary Business Rate relief for five years from first receiving the benefit and with effect until September 2034.

• Exemption from Stamp Duty Land Tax when buying any land or buildings in the site subject to it being acquired and used for qualifying commercial purposes.

• Relief from employers National Insurance contributions (for three years) - this is up to £25,000 per year where new employees spend 60 per cent or more of their working time in the tax site.

• Further cash flow benefits are also available for tax allowances (Structures and Buildings Allowance and Enhanced Capital Allowances)

The St Helens Investment Zone Tax Site is known as the St Helens Manufacturing and Innovation Campus, which will include SINA Medical, Glass Futures, Innovus Medical HQ, Project Halo and the former Watson Street Works.