Our North East Investment Zone is good news for the region. Government first planned these in August 2022, when they originally offered us £80 million. I met with Ministers to help shape our deal, because we need up-front investment and secure well-paid jobs, not zero-hours contracts.
We’re now getting £160 million over ten years to boost local skills and infrastructure in Blyth, along the Tyne, at IAMP in Washington, and NETPark in Sedgefield. This will mean more well-paid jobs in green tech and advanced manufacturing – from offshore wind to electric vehicle production.
Investment Zones must complement the strategic vision I have for the region. I want to make the North East a great place for innovative, progressive businesses to thrive in. Together we can build a zero poverty, zero carbon North East.