Representatives of one of America’s wealthiest states are tapping into expertise at a North East port in a bid to drive the economy on both sides of the Atlantic.
The Delaware Prosperity Partnership (DPP), the main economic development organization for the state of Delaware, has signed a Memorndum of Understanding with the Port of Blyth, highlighting the Northumberland port’s growing expertise as a leading base for the offshore energy sector. It is hoped that the five-year agreement will “foster innovation, facilitate market expansion and enhance workforce capabilities” in both Delaware and Blyth.
Port of Blyth has benefitted from being an early player in the Ƶ’s booming offshore energy market. Earlier this year it announced a third consecutive set of record results, with turnover growing to £31.5m and operating profits of £3.9m, while some of the sector’s major players have set up there.
New laws passed in Delaware in recent weeks aim to accelerate the east coast state’s offshore wind sector, with the area having set a target of having 40% of its energy needs from renewable sources by 2035. The deal signed by the two organisations aims to drive mutual benefits through economic development, knowledge sharing, promotion and consulting services, they said.
Port of Blyth CEO Martin Lawlor said: “We look forward to working together with DPP to share best practices and explore new markets. The signing of the MoU reflects a strong commitment to building a collaborative framework that prioritizes mutual benefits, innovation, and sustainable growth for both the Port of Blyth and DPP.”
Kurt Foreman, president and CEO of DPP, who attended the signing virtually, said: “The Port of Blyth is one of the leading ports in the world that really know how to handle companies in the energy transition space, and DPP is eager to tap into its expertise.
“Formalising our cross-Atlantic relationship will allow DPP to leverage the port’s considerable capabilities and experience and enhance our ability to assist companies from Delaware and abroad, build further connections and, where possible, aid in creating more jobs and more revenue both here and overseas.”
DPP has a longstanding relationship with the North East and had previously entered into an MoU with the former North East Local Enterprise Partnership.
The deal was signed by Mr Lawlor and DPP global advisor David Smallman, who worked with DPP director of innovation Noah Olson – who attended virtually – to finalise the agreement between the two organisations.
