Partner Article

Tees valley hub on its way to becoming a self-sustaining cluster

A DIGITAL hub which aims to create 160 jobs over the next five years has moved a step closer to becoming a self-sustaining cluster after securing £810,000 worth of new funding.

DigitalCity in Tees valley has received joint funding from Middlesbrough City Council in addition to European Union investment from the European Regional Development Fund (ERDF) Competitiveness Programme 2007-2013.

DigitalCity Business focuses on taking digital businesses and developing them as quickly and as effectively as possible, benefiting small and medium-sized firms in the digital media, digital technology and creative sectors in the Tees Valley and wider North East.

Lesley Calder, Head of European and Skills Strategy at One North East, said: “It is clear that the digital and creative sector is a vital way forward for the Tees Valley economy and this ERDF funding will allow the DigitalCity Business project to strive forward and start to achieve its ultimate aims of becoming a vibrant, successful and self-sustaining cluster.”

By March 2012, the project aims to develop the business cluster further by creating 20 new firms, developing 20 more into businesses with high growth potential and developing a further two into businesses achieving high growth.

By 2015, the aim is to increase the turnover of DigitalCity Business by 20% and increase international trade by 75%.

They also aim to attract six new businesses to the region, support 424 firms in total and help 80 people further their skills development.

Mark Elliott, Director of DigitalCity Business, added: “Creating the right business environment to help companies thrive is the essential next step of DigitalCity Business.

“DigitalCity Business’s overarching aim is to create and drive the services, initiatives and activities that will continue to support and stimulate the creation of a self-sustaining, vibrant and successful digital media, digital technology and creative sector in the Tees Valley and the North East and we are now on track to achieve these aims.”

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