Pharmaceutical company AstraZeneca is set to close its research and development facility in Alderley Park, Cheshire, as plans emerge for a new Bio Science Park and Incubator.
As part of the closure around 1,600 jobs will relocate to Cambridge, where AstraZeneca is creating a new £330m R&D centre, with around 700 non-R&D jobs expected to stay at Alderly Park.
Cllr Michael Jones, Cheshire East Council leader, said: "Cheshire East Council will work hard to ensure the future sustainability of AstraZeneca's major centres in Alderley Park and Macclesfield.
"We will now need to accelerate our emerging plans for a new Bio Science Park and Incubator, as part of drive to foster growth of the Life Science sector in the region and maximise the wider potential of the site for future development."
The news comes just five months after chancellor George Osborne helped AstraZeneca secure a £5m government grant to develop Alderley Park into a bioscience cluster.
Cllr Jones continued: "I am very pleased to say that George Osborne, chancellor and local constituency MP for Tatton, has personally fought very hard to retain a strong position for AZ in the UK and I believe without his direct involvement the announcements today would have meant a complete closure of Alderley Park.
"I believe that with the collective efforts of the North West scientific community, life sciences business, Cheshire East Council and Government, that we can build a sustainable and vibrant future for our science sector.
"We have all the ingredients – we just need the backing and initial up-front investment from Government through a Task Force led by the Minister for Universities and Science David Willetts MP and AstraZeneca.
"We must accept, adapt and respond to these types of announcements and look to the future and the potential opportunities it may create."