North East Investment Zone

Invest North East England > North East Investment Zone

Introduction

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.

And on the following four sites:

  • Blyth Energy Central view map
  • River Tyne Economic Corridor view map
  • International Advanced Manufacturing Strategic Site (IAMSS) in Sunderland and South Tyneside view map
  • NETPark (North East Technology Park) in County Durham view map

In addition, businesses and residents across the wider region will benefit from supply chain and employment opportunities.  

Overall, it is expected to create at least 4,000 jobs and to secure £3bn of private sector investment.

Investment Zone Offer to Businesses

Businesses locating in the NEIZ will benefit from the following support package:

  • Skills:  £30million of new funding to deliver a world-leading pipeline of talent, alongside additional support from other regional and national funding streams
  • Innovation:  £10million of funding to unlock new investment in R&D and innovation, alongside access to internationally-leading research and innovation expertise within the region’s Universities and Catapults.
  • Infrastructure: £30m of investment in site enabling and other infrastructure works to remove barriers to investment.
  • Tax benefits for new investment at the Blyth Energy Central and IAMSS IZ sites.  With fiscal incentives in relation to Employers’ National Insurance, business rates, Stamp Duty Land Tax, Enhanced Capital Allowances and Enhanced Structures & Building allowances . More information on the tax reliefs can be found here and on the eligible areas can be found below.
  • A capital co-investment fund to support new investment along the Tyne Economic Corridor and NETPark IZ sites.  This will reduce the cost faced by businesses as they invest in new facilities, creating more jobs in our key sectors.  Funding could be used for a variety of purposes including to support the introduction of new equipment or the cost of energy connections.
  • Prioritisation and co-ordination: a commitment from the public sector to maximise the potential of the NEIZ and to ensure that investment decisions can be made and implemented at pace.  This will includencluding inward investment support and a senior point of contact in the relevant local authority.

Blyth Energy Central

The energy cluster across the Blyth estuary and wider hinterland currently supports around 2,700 jobs, with key businesses including the Port of Blyth, Royal IHC and TFKables/JDR Cable Systems.

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River Tyne Corridor

The Tyne currently accommodates a well-established cluster supplying around 3,500 jobs in the Energy, Offshore and Marine sector.

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International Advanced Manufacturing Strategic Site

The automotive cluster, anchored by Nissan, already employs more than 12,900 people (2019) in in the NEMCA area, including at the International Advanced Manufacturing Park, which is located on the boundary between Sunderland and South Tyneside.

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NETPark

NETPark is a nationally significant science park that is already home to three national Catapults, three national innovation centres, 40 businesses (including Kromek and Pragmatic) and 700 jobs – set within a 72 hectare site.

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Contact details

For more information about opportunities to invest in these sites, please contact the Invest North East England Team