Member Article

North East Enterprise Zone spurs wave of investments

Developers are making multi-million pound investments in new state-of-the-art buildings at the North East Enterprise Zone because of the growing confidence in the economy and increased level of stability, Communities Secretary Eric Pickles announced today.

These are part of a record number of developments across Enterprise Zones and are playing a vital role in boosting the economy.

They will deliver world-class infrastructure that will create more jobs on the Zone and provide knock-on benefits for people living nearby - from new services and infrastructure through to new business opportunities.

The Enterprise Zone has become a real magnet for investment since it opened with developers so confident that they will let new buildings, that they start work before having tenants lined up to move in.

This includes the Blyth Workspace, which will provide 30,000 square feet of contemporary managed office space with the potential for up to 120 jobs.

Funded by private and public investment, the development is costing around £7 million and will form the centrepiece of the mixed-development Commissioners Quay.

Communities Secretary Eric Pickles said: “Enterprise Zones are a great place to do business. That’s why these developers are channelling millions of pounds into these investments.

“It proves that our long-term economic plan is on track, helping deliver the kind of world-class infrastructure that attracts top companies.

“And that’s great news for the economy and communities because it’s these kinds of businesses that will create jobs for hard-working people.”