Port reveals 12,000-job offshore base blueprint

A port operator has unveiled £150 million expansion plans.

Port of Tyne hopes to create a 230-acre offshore wind and manufacturing hub.

Bosses say the base could create 12,000 jobs and pump £5.6 billion into the economy by adding 400 metres of deep-water quayside to the commerce conduit.

They add the venture would deliver trade benefits including business rates relief, enhanced structures and buildings allowance relief and stamp duty land tax relief.

The project is set to be officially launched at London International Shipping Week.

Matt Beeton, Port of Tyne chief executive, said: “Accelerating offshore wind, renewable energy and advanced manufacturing is a national priority and requires decisive action.  

“Boosted by industrial strategy zone status that provides similar benefits to a modern freeport, our expanded Tyne Clean Energy Park is uniquely positioned to support this UK-wide initiative.  

“The site offers deep-water access and a major development footprint to enable the creation of world-class infrastructure to support a growing supply chain offering. 

“We’re ready to deliver a strategy that unlocks the region’s enormous potential and attracts global investment.”

The endeavour has been backed by North East mayor Kim McGuinness.

She said: “It’s fantastic Port of Tyne is bringing forward a new clean energy terminal with a deep-water dock, which will help us in our work to establish the North East as the home of the green energy revolution. 

“The site could generate thousands of clean energy jobs, which will benefit the region in the long-term and further establish a real hub for renewables and offshore sectors on the banks of the Tyne.”

Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day. Find out how Bdaily can help →

Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.