Member Article

Digital innovation centre to be built in Stockton

A £2.87 million building that will provide research and development space for digital and scientific firms will be built in Stockon, it has been announced.

The Northshore Innovation Centre will be built the 5.1 hectare Northshore Enterprise Zone in Stockon - an area specifically for digital companies to expand and feed the local economy.

Investment from the ERDF Competitiveness Programme 2007- 2013, which is managed by the Department for Communities and Local Government.

Match funding is being provided by the Homes and Communities Agency and Stockton Borough Council is managing the project.

Communities Minister Baroness Stowell said: “Transforming Stockton’s riverside to create new businesses, jobs, and to boost the local economy, is what the Northshore Enterprise Zone is all about, and this latest funding will help to make it happen.

“The Northshore Innovation Centre will ensure the area retains businesses with high growth potential and help attract new ones because it will offer the kind of facilities digital businesses want and need. It’s the Enterprise Zone’s vision for Stockton, and the clarity of projects like the Innovation Centre, that it is inspiring that has secured it this additional funding.”

The dedicated workspace and business support facility will link with Teesside University, Durham University and DigitalCity Innovation to create effective business and research partnerships between digitally based businesses in Stockton and the knowledge base.

It will provide opportunities for service integration, skills development, product and market research, flexible working and networking to directly support the growth of the Tees Valley digital and science industry cluster in Stockton.

The Centre will also provide a forum for individuals to collaborate, meet new businesses and develop business opportunities which will help unlock the growth potential of innovation and technology-led sectors.

David Curtis, executive director at the Homes and Communities Agency said: “The confirmation that the Northshore site will receive European Funding means that the Homes and Communities Agency can invest an additional £2.8 million to help provide purpose built research and development facilities for local businesses.

“This will build on the £5million we invested in Darlington and Middlesbrough in June. Our matched funding will ensure that as the economy picks up businesses in the Tees Valley will have the facilities they need to grow and compete internationally.”

Companies locating on Enterprise Zone Business Rate Relief sites can apply for business rate relief of up to £55,000 per year for five years and can take advantage of superfast broadband following investment by Stockton Borough Council, Tees Valley Unlimited and other neighbouring authorities.

Alongside the Enterprise Zone and Innovation Centre, a multi-million pound scheme is being developed by Muse Developments in partnership with the Homes and Communities Agency, supported by Stockton Council, to provide 750,000 square feet of housing, commercial, retail and leisure accommodation.

Stockton Council’s Cabinet Member for Regeneration and Transport, Councillor Mike Smith, added: “It is really exciting to see so much progress on Stockton’s Riverside which is certainly acting as a catalyst for further investment and business growth.

“The Innovation Centre will be an invaluable contribution to this, providing a purpose built facility for the Tees Valley’s rapidly growing digital sector.

“It is a perfect place for residents and businesses alike – what better location for businesses to grow and develop with purpose built space, within easy reach of the town centre and major transport routes within a high quality riverside environment.”

The European Regional Development Fund Competitiveness Programme 2007-13 is bringing over £300 million into North East England to support innovation, enterprise and business support. It will help create and safeguard 28,000 new jobs, start 3,000 new businesses and increase the productivity by £1.1 billion per annum.

This was posted in Bdaily's Members' News section by Tom Keighley .