Future Developments
The North East economy has become one of the most dynamic in the UK and Europe, helped by massive investment in a new generation of advanced technologies. Its companies now serve expanding markets around the world with products exploiting those technologies.
More than £200 million has been invested in leading edge technologies in the past six years alone. These investments have focused on key priority sectors offering huge economic potential, with highly innovative collaborations taking place between companies and the North East’s universities.
With its thriving, knowledge-based, low carbon economy, Tyne and Wear has established an international reputation for innovation in key sectors including low carbon technology, new and renewable energy, healthcare and life sciences, digital and process industries.
As the UK’s first designated Low Carbon Economic Area specialising in ultra-low carbon vehicles, it is set to transform the automotive industry, offering exciting opportunities for career development and business growth.
In addition, with world-class research and engineering capabilities in wind, wave, tidal and solar power, an established supply chain and infrastructure primed for commercialisation, the region is leading the way in sustainable energy solutions for the future.
As a result of all these factors over 500 leading multinational companies have already established a foothold in North East England, which gives them access to the world’s largest trading block; the European Economic Area.
Sites are currently available in the region on which purpose-built premises can be created, and larger brownfield areas have the potential for campus-style developments.
