A North East science park has announced that it is aiming to create more than 1,200 jobs as it bids for £50m of growth investment.
NETPark (North East Technology Park), in Sedgefield, is appealing to Durham County Council for funding of £49.6m to finance its expansion.
The new phase of expansion would create up to 1,250 skilled jobs and would see 26 hectares of land become new laboratory, office, production and storage space.
The site is the region’s only science park and is currently home to 40 companies, including Kromek, Filtronic and PolyPhotonix.
James Rowlandson, the council’s cabinet member for resources, investments and assets, commented: “As the region’s premier science and technology park, NETPark has been and remains a genuine success story.
“It is home to some really innovative companies doing truly ground-breaking work and has certainly played its part in cementing County Durham’s reputation as a great place to do business.
“It is really exciting to be contemplating a third phase of NETPark and the prospect of the further 1,250 skilled jobs worth £625m to our economy is tangible evidence of us delivering on our ambition to create more and better jobs for our residents.”
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