Partner Article

CDDC welcomes PETEC expansion

A North East science park has been given another boost with the announcement of a £20m investment.

The Government and regional development agency One North East are to invest £20m to expand a world-class facility in the grounds of the North East Technology Park (NETPark).

NETPark is home to the Printable Electronics Technology Centre (PETEC), which will use the investment over the next four years to create 250 jobs in the region and 1,500 nationally.

Stewart Watkins, managing director of the County Durham Development Company (CDDC) which manages NETPark on behalf of Durham County Council, said: “This is fantastic news and a great endorsement for the world-class facility we have here in the region.

“PETEC is a cutting-edge centre for developing incredibly exciting technologies which have a multi-billion-dollar market. The scale of this investment by the Government and One North East signifies the faith in its ability to become a leading player in printable electronics now and in the future.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .