Partner Article

600 new jobs at NETPark because of £10m grant

Up to 600 jobs have been created after a £10m development fund was given to technology centre NETPark.

The region’s leading science and technology park, in Sedgefield, County Durhamwill use the money to build new three new facilities set to be completed in March 2010.

Although 600 jobs could be created directly, as many as 1,500 jobs could be formed in the local economy as a direct result, according to an independent study by Batelle.

The cabinet member for economic development at Durham County Council, Coun. Neil Foster, said: “This is a major step for NETPark and County Durham’s knowledge economy.

“It is tremendously exciting to see the great strides being made at NETPark and the approval of this funding demonstrates the confidence there is in the park’s continued development and success.”

Durham County Council have invested £4m, with One North East contributing £1m and the other £5m has been given from the European Regional Development Fund, adding another fund to Durham’s technology sector.

Ian Williams, One North East’s director of business and industry, said: “The number of companies growing through the incubation process at NETPark is increasing and so too is the need for additional space.

“These buildings are the missing link which takes a company from incubation to a successful commercial organisation.”

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