Plans to expand the North East Technology Park (NETPark) in Sedgefield, County Durham – which could create more than 1,200 jobs – have been backed with a £49.6m investment from Durham County Council.
One of the UK’s top science parks, NETPark provides a dynamic and supportive environment to accelerate the growth of innovative hi-tech companies into global markets. The new 26-acre site is geared at existing tenants and inward investors ready to relocate to grow, scale-up and commercialise their operations. Clear Futures has been working with Business Durham, the business support service of Durham Council, to develop this next phase of buildings and landscaping with a key focus on wellbeing and sustainable living.
Home to over 40 companies and 600 people, existing facilities at NETPark include world-class laboratory, clean room and office space. The Phase 3 development will create flexible units and bespoke space up to 80,000 sq ft to support business growth.
Cllr James Rowlandson, Cabinet Member for resources, investment and assets at Durham County Council, said: “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.
I’ve had a chance to look at the ideas for the Phase Three development and the design and type of buildings will be a massively exciting enhancement to the park, providing accommodation that I believe will be hugely attractive to companies.”
The location is a key attraction – just 20 minutes from Durham and within easy distance to major transport, NETPark enjoys a countryside location.
Richard Airey, Director of Clear Futures, commented, “It’s set in a really lovely environment, something businesses feel is as important as its great connectivity. We aim to keep the rural feel of the site, which offers access to lots of great outdoor activities such as walking and cycling along existing networks – these are a real benefit to the people working here.”