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North East set for 6,000 new jobs, according to latest inward investment statistics

Businesses investing in the North East will create over 6,000 jobs in the next three years, according to statistics unveiled by Invest North East England this morning.

On behalf of the region’s seven local authorities and the North East Local Enterprise Partnership (LEP), figures show 84 inward investments in the North East between April 2016 – March 2017 by companies creating a new base or expanding existing operations.

With the IT, automotive, manufacturing, energy and financial sectors booming over the past year, the region has enjoyed a total of 84 inward investment projects during the period, with 64 of these investments from foreign companies. The region’s biggest overseas investor continues to be the USA.

Up by more than 2,000 jobs on last year’s figure, major successes include UK-owned contact centre business ResQ creating 1,200 jobs at its new Seaham base, Belgian-owned Smulders creating 300 new jobs on North Tyneside and Convergys planning to create 600 jobs at its centre of excellence at The Rocket, in Newcastle’s Stephenson Quarter.

Additionally, Nissan Sunderland has continued investment and re-investment into its Wearside plant, creating new jobs and opportunities despite initial post Brexit fears of potentially reshoring the plant elsewhere.

Guy Currey, Invest North East England Director, explained: “The latest inward investment statistics are highly encouraging and show how attractive a location North East England is to foreign and UK-owned businesses.

“Companies who choose to invest here tell us the region’s highly skilled, flexible workforce, unrivalled business accommodation and connectivity to global markets means they make a great return on their investment.

“Many recent investments are in our sectors of world class strength – automotive manufacturing, financial and professional business services, energy and IT – building strong foundations for continued sustainable economic growth.

“To build on the success from last year, the team are now working proactively in market to generate further interest in the North East and create more jobs.”

Nic Marshall, ResQ CEO, added: “We were delighted to be able to expand our business into North East England.

“Spectrum Business Park and County Durham as a whole offered us the quality of premises we needed for this key expansion of our business, with access to a high quality workforce which was critical in our decision-making process.

“The outstanding support we have had to help us make the move and expand our business here, entirely justifies our decision to come to North East England.”

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