Member Article

New Stockton business centre to accelerate Tees Valley digital industry growth

A new business and innovation centre is set to accelerate the growth of digital industries across the Tees Valley.

Fusion Hive will be at the heart of the Northshore regeneration area of Stockton, where work is being led by Muse Developments, one of the country’s leading names in urban regeneration.

Muse is developing Fusion Hive in conjunction with Teesside University and Stockton Borough Council and is being built on land owned by the Homes and Communities Agency (HCA), who have invested nearly £3 million into the project.

The three-storey Fusion Hive, a 36,000 sq ft facility offers flexible working spaces for around 60 small and medium sized enterprises in the digital and scientific sectors.

Managed by Teesside University it will provide business tenants not only with high-spec accommodation, but also access to business support services and specialist expertise along with potential funding opportunities.

Any business which takes up space at Fusion Hive will also benefit from Teesside University’s established business network, which will give opportunities to help with growth and development.

The design of Fusion Hive, has the needs of fledgling enterprises at its core. Flexible individual workspaces and collaborative areas will help likeminded businesses interact, network and work together.

Fusion Hive was given the go-ahead following the receipt of £2.87m in investment from the European Regional Development Fund (ERDF), the fund matched by the HCA.

By supporting the growth and development of some of our most innovative businesses, Fusion Hive is set to have a real impact on the economy of the Tees Valley and wider North East.

Senior Development Surveyor, Muse Developments, Simon Dew: “We are extremely proud of the Fusion Hive development, located at the heart of our successful Northshore regeneration scheme. Fusion Hive sees the collaboration between several organisations that will ultimately give new businesses the best opportunity to grow and prosper.

“Construction is well underway and we’re looking forward to its completion this summer. It will be a great asset to Northshore, which has an exciting future ahead, with the new head office for Thirteen nearly complete and the second phase of successful housing development Vivo selling well.”

Director of Academic Enterprise at Teesside University, Laura Woods, added: “For Teesside University, building strong links with businesses and helping them to grow through innovation and skills is a major priority.

“Fusion Hive gives us a fantastic opportunity to work with some of the most creative and innovative companies in the North East. It will bring a new dimension to the work we already do with business in the region.

“Through our own knowledge base, resources and networks we plan to give these SMEs the best opportunity they can have to grow and develop. In this way, Fusion Hive’s positive impact will extend beyond the tenant companies to the wider economy of the region.”

Area Manager at the HCA, Marie Kiddell, added: “The launch of Fusion Hive is the second office building to be completed at Northshore and continues to provide job opportunities for local people, to complement the homes we have also helped deliver.

“Fusion Hive will complement the Business Incubators we are funding, with ERDF support, in Darlington and Middlesbrough which will also be completed in 2015”