The Cape Health Technology Park (CHTP) project forms one of the Western Cape Government’s key infrastructure development projects, the Urban Regeneration Programme. The Urban Regeneration Programme aims to utilise Provincial property as a catalyst for creating economic growth and jobs. It is envisaged that The Cape Health Technology Park, a collaborative venture between the Western Cape Government, the national Department of Science and Technology, academia and business, will be a world-class facility where pharmaceutical companies, research institutes, clinical trial facilities and health-related academic and government programmes are strategically housed in one location.
The economic impact of the proposed CHTP, during its construction phase, could be transformational with R1.5 billion contribution to the economy; 2 000 direct jobs; and 4 165 indirect and induced jobs added to the national economy, based on a construction investment of R757 million. During its ten-year operational phase, the CHTP is set to contribute more than 13 000 jobs to the economy.