A £62m project to expand a North East science and business park has reached a significant milestone with the last piece of steelwork being fitted at the site.
The third phase of development at NETPark at Sedgefield, County Durham, will provide 11 new units and an initial seven hectares of space for laboratories, offices, production, and storage. The extension, which could rise to 16 hectares, aims to build on the success already achieved by the park, which opened in 2004 and is now home to 40 companies and 700 employees.
Representatives from Durham County Council and construction partner Kier, as well as the North East Combined Authority, Ryder Architecture and Clear Futures, gathered on site to mark the occasion.
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The latest expansion of the park has the potential to create another 1,250 skilled jobs and to be worth £625m to the local economy over the next 10 years. A further 44 hectares around the site have been designated as development land, paving the way for a fourth and potential further phases of NETPark, with the aim of eventually hosting 3,000 to 4,000 high-value jobs.
Coun Amanda Hopgood, leader of Durham County Council, said: “We are pleased to have reached this key milestone, which signifies the Phase 3 expansion of NETPark taking shape. It really is an exciting time for the park given the significant investment we have made, allowing Phase 3 of the site to come out of the ground, and its designation as a Growth Site in the new Investment Zone for the region.
“The entire phase of development unlocks huge potential for the county, with over 230,000 sq ft of new lab and scale-up production space, creating high-value jobs and widening supply chains. It will provide more and better jobs and benefit the local and regional economy by enabling growth and attracting and retaining leading businesses in the science, technology and engineering sectors.”
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Construction of Phase 3 is being delivered by Kier, which is providing training opportunities, work experience and spendin with local businesses as part of its contract.
Daniel Doherty, regional director at Kier Construction North & Scotland, said: “We are incredibly proud to have reached this significant milestone at NETPark. This is an exciting project for Kier which represents the ongoing importance of the North East as an area of growth for us, as well as our commitment to delivering outstanding projects in the science and technology sectors.
“The completion of the steelwork gives us the opportunity to celebrate the expertise, hard work and dedication of the team responsible for delivering such a remarkable building, which will leave a lasting impact on the local community for years to come.”
The North East LEP helped support the expansion with grants totalling nearly £20m towards highway infrastructure and the creation of units for research and production activities. NETPark has also been designated as a Growth Site in the new North East Investment Zone, allowing the council and businesses to have priority access to flexible funding to invest in new and existing business.