Cambridge Science Park has submitted a major new masterplan for planning approval that would expand the historic campus to approximately 8 million sq ft and more than triple its annual economic output to over £3 billion.

The privately funded proposals would significantly reshape the 152-acre site in north Cambridge, increasing built space from around 2.8 million sq ft while supporting the creation of approximately 20,000 additional jobs across life sciences, technology and clean energy sectors.

Founded by Trinity College Cambridge in 1970, Cambridge Science Park is regarded as the UK’s oldest science park and currently accommodates more than 7,000 workers across a range of science and technology businesses.

According to the project team, the campus currently generates around £1 billion in annual gross value added (GVA), with productivity levels significantly above national and regional averages.

The proposed expansion aligns with wider government ambitions surrounding the Oxford-Cambridge Growth Corridor and the continued development of Cambridge as a global science and innovation hub.

Alongside new laboratory, research and commercial space, the masterplan includes proposals for new public realm, green routes, lakes, biodiversity-focused landscaping and improved transport connectivity aimed at reducing car dependency.

Plans also include what has been described as a new “Park of Science”, featuring public open space, cultural and educational facilities, and improved community access across the wider site.

The development is intended to support long-term growth within sectors including life sciences, advanced technology and clean energy, while also creating additional opportunities for apprenticeships and STEM education initiatives linked to local communities.

Jane Hutchins, director of external relations at Cambridge Science Park, said the proposals represented a major opportunity for long-term economic growth.

She said: “Innovation at Cambridge Science Park has already changed how billions of people live their lives, from groundbreaking cancer drugs to Bluetooth technology. Now our masterplan scales that success to deliver threefold economic growth and up to 20,000 new jobs.”

Dame Sally Davies said the proposals would help position the UK within globally competitive science and technology sectors.

She said: “The plan offers a unique opportunity for Britain to lead the global transition into the industries and innovations that will define our future.”

A spokesperson for University of Cambridge described the project as a long-term framework for the next stage of the Cambridge innovation ecosystem, adding that the expansion would help support future research, investment and commercialisation activity within the UK.

The plans have now been submitted for planning consideration, with the masterplan expected to guide development across the site over the coming decades.