York Science Park, a joint venture between the University of York and P&O Developments, was developed to stimulate the sharing of knowledge between the University and in the industrial community. The Science Park includes an Innovation Centre, Bio Centre and IT Centre. It accommodates companies that require managed laboratory or office space with specialist infrastructure and business support in the pharmaceutical, healthcare, IT, life sciences and electronics industries. York Science Park has facilitated significant investment in the local area and acts as a key factor in the economic sustainability of the locality. The Park employs over 1,000 people and with the growth of new business, this figure is continually rising.