Conducting an economic impact assessment for a Gene Therapy Innovation and Manufacturing Centre
Steer Economic Development was appointed by The University of Sheffield (UoS) to conduct an Economic Impact Assessment of proposals for a £22.5m Gene Therapy Innovation and Manufacturing Centre (GTIMC). Based in Sheffield, the GTIMC is a proposed new facility designed to bridge the gap between the University’s world-class research and the quickly expanding Gene Therapy space.
Gene Therapy is used to target a wide range of genetic diseases, including cancer, neurological diseases, rare bone diseases, and autoimmune diseases. It is a highly desirable therapy, as it works effectively and as a single treatment. It is a fast-growing industry, but currently, there is a gap between demand and supply for viral vector manufacturing capacity and skills in the UK and Europe.
Steer Economic Development conducted a two-part Economic Impact Assessment (EIA) of the GTIMC to draw out the key quantitative and qualitative impacts that it offered. First, a HM Treasury standard impact assessment model was designed to estimate the direct, indirect, and induced impact of the facility on GVA and jobs for the UK and Sheffield City Region. Second, consultations were held with national experts in Gene Therapy to understand the wider transformational impacts that the facility could have on the health outcomes for citizens, efficiencies for the NHS, innovation at The University and across the SCR, and for the potential to develop a world-class cluster of activity around the facility.
Both aspects of the EIA will be used by The University to leverage public funding and attract private investment to the facility.