Costs and incentives

Excellent returns on investment

Energy Gateway North East England provides exceptional value to investors. Wages and property costs are extremely competitive compared to other key energy clusters in the UK and internationally.  For example, Financial Times Benchmarking Studies demonstrate that:

A typical 30 person R+D facility will save you £1.3m p.a. compared to Hamburg in labour and property costs

For an engineer the typical cost saving is over: 30% compared to greater London 9% compared to Aberdeen 50% compared to other major European cities (Hamburg)

Cost Competitive Location, Office and Industrial sites in the North East offer some of the lowest costs in the UK and Europe

Incentives

North East Investment Zone

The £160m North East Investment Zone (NEIZ) is set to unlock growth across ‘clean energy and green manufacturing’ businesses through this ten year programme. It builds on the region’s world-class reputation in these sectors, alongside the North East’s landmark devolution deal which brings £4.2bn of funding alongside additional powers and flexibilities.

Following a period of co-design with businesses, universities, colleges and stakeholders the key features of the North East Investment Zone have now been finalised.

It will have a particular focus on:

  • Offshore & Renewable energy
  • Electric Vehicle and battery manufacturing
  • Associated low-carbon manufacturing, materials and research.

In particular, two rivers in the North East – The Tyne and Blyth will have Investment Zone status, bringing a wealth of opportunities to investors:

More information on all of the region’s Investment Zones can be found here

Funding

Invest North East England can help with information on financial incentives which can ensure a faster and more successful relocation to the region.  Support is available to both national and international firms of all sizes that are considering a relocation to North East England (subject to companies meeting eligibility requirements).

For business looking to make their first investment into North East England, grants maybe available for significant investments from foreign or UK owned businesses (subject to companies meeting eligibility requirements).

Current incentives include:

Small and medium business grants:

Capital grant funding maybe available for small or medium sized businesses looking to expand or establish a business base in North East England.  Eligible companies could receive a grant of between 20% – 45% of expenditure (subject to companies meeting eligibility criteria).

Current incentives include:

Please get in touch with the team to find out how we can support your business.

A proud and proven track record

North East England has a long and successful track record of attracting business to locate to the region and we offer a comprehensive package of free support, providing a single point of contact for companies looking to relocate to North East England.

We provide access to a commercial property and land database helping businesses to find suitable business premises

We have access to an extensive partnership network of Local Authorities, support agencies, sector specialists, universities, colleges, knowledge networks and business organisations throughout the region.

We can provide investors with a range of services including:
  • A ‘Soft Landing’ package of accommodation, professional services and access to business networks to support your relocation or expansion
  • Information and statistics on the local economy, demographics, infrastructure, labour market etc.
  • Access to finance
  • Assistance with property searches and local planning issues
  • HR support including:
    • Wage comparisons
    • Training
    • Recruitment
    • Local market information
    • Support for key employees and their families moving to the area
  • Supply chain introductions
  • Introductions to external support programmes
  • Personal Account Manager dedicated to your project and a full aftercare programme

Support

Invest North East England works closely with our public and private sector partners to ensure businesses have access to the very best guidance and advice.

We have a knowledgeable and dedicated team able to provide the latest information on the availability of national and regional financial support packages.

Our Local Authority partners also provide an extensive package of Strategic Account Management support to existing investors, ensuring businesses based in the region continue to prosper and grow.

Please get in touch with the team to find out how we can support your business.