Member Article

Stockton Town Centre one of the North East’s fastest growing economies

Stockton is bucking the trend when it comes to the number of shops in its Town Centre.

More than 40 businesses have opened, expanded or relocated in Stockton Town Centre since the beginning of the year.

As well as the growing number of shops and eateries there is often a specialist market or event to enjoy too meanwhile Stockton’s 700 year old traditional market continues to be held every Wednesday and Saturday.

This summer research by RBS revealed that Stockton Borough experienced economic growth above three per cent year-on-year making it one of the fastest growing economies in the North East.

The new businesses range from women and children’s clothing to pet shops, florists, beauticians and a gadget shop.

Stockton Council’s Cabinet Member for Regeneration and Transport, Councillor Mike Smith, said: “There is a real buzz in Stockton Town Centre.

“The town’s physical regeneration will be complete by the spring and confidence in the Town Centre is continuing to grow.

“More than 40 businesses have opened, expanded or relocated and vacancy rates are the lowest they have been in three years.

“85 per cent of the units on Stockton High Street are occupied and the Castlegate Centre is 96 per cent let.

“The range of independent businesses is continuing to grow and we are seeing big names arriving too, Costa Coffee opened this summer joining the many other fantastic new coffee shops, tea rooms and eateries.

“This comes at a time when national surveys are claiming soaring numbers of closures across the country.

“I’m sure this upward trend will continue for many years to come and any business which chooses to make their home in Stockton will reap the benefits of an attractive and easily accessible Town Centre.”