North East council approves £49.6m funding for job-creating NETPark expansion

Plans to create more than 1,000 jobs with the expansion of a North East science park have been approved.

Durham County Council has approved plans for the expansion of NETPark (North East Technology Park) in Sedgefield, contributing £49.6m to help finance the plans.

The expansion plans, which were announced last week, include a ‘Masterplan’ for up to 433,800 sq ft across a 26-acre site, creating 1,250 direct jobs and a further 2,200 in the supply chain.

James Rowlandson, cabinet member for resources, investment and assets at Durham County Council, commented: “It’s exciting to see NETPark’s Phase Three expansion going ahead.

“This investment reaffirms the Council’s original vision for NETPark and our commitment to the ongoing creation of a world class centre for businesses developing the next generation of advanced technologies.

“The plans to expand NETPark demonstrate the importance of NETPark to the region’s economy, not only is it the go to place for people and companies with great ideas and ambition, but it plays a key role in creating more and better jobs for our workforce.

“The expansion will create 1,250 direct jobs and a further 2,200 in the supply chain in thriving industries which will help deliver a strong and competitive economy.”

 

Credit: Bdaily

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