The project is set to benefit from a share of the £110 million handed to the York, North Yorkshire and East Riding Local Enterprise Partnership.
The BioHub marks the first phase of a major new bioeconomy research and development cluster on Heslington East, with hopes the plans will drive growth of the biorenewables in the region.
The University’s Pro-Vice-Chancellor for Research, Professor Deborah Smith, said: “The funding announced today, to support the development of BioHub Buildings at the University of York, will provide the essential facilities and business incubation space needed to help build the region’s bioeconomy.
“The University has world-leading capabilities in both biological and chemical sciences for the development of bio-based products. This new BioHub centre will significantly enhance the ability of the university to leverage research expertise to drive low carbon economic growth and the creation of sustainable jobs for the region.”
The BioHub is set to cover 85,000 square feet of laboratory business incubation/grow on space and could create up to 500 new jobs.
The Biohub project, part of the BioVale initiative, aims to establish the region as an international centre for bio-based research and development, stimulating sustainable economic growth and encouraging inward investment.
The news follows earlier plans to build additional commercial buildings and a lake resort on the Eastern campus.