NETPark was opened on 23rd July 2004, the then Prime Minister, Tony Blair. Since that time, NETPark has experienced much success and is recognised as a nationally important innovation asset. Further expansion is needed to meet the demand for space in order to continue to attract high quality science, engineering and technology companies.
NETPark phase 3A development will see a 1km access road from the A177 to the new 26 acre development at the north of the park build, creating additional space for research and development companies who need room to prototype and scale up to manufacture on site.
NETPark received funding from the Local Growth Fund (LGF) in 2016 for infrastructure works for the next phase of these ambitious plans to provide space for high-tech, fast growing companies.
Already home to some of the world’s most innovative companies, the latest development could lead to the creation of around 1,400 jobs.
NETPark received funding from the North East Local Enterprise Partnership (North East LEP) Local Growth Fund (LGF) in 2016 for the infrastructure works as part of the North East Growth Deal from the Government. The Local Growth Fund is a key element of the funding, and supports major capital investments to promote innovation, economic and skills infrastructure and sustainable transport across the North East LEP area.
The development forms part of the 10-year strategy for NETPark, which includes creating 3,000 jobs and adding another £400m to the region’s GVA.
Find out more about the ten year strategy here
NETPark Explorer is a £7.4m development at NETPark, one of the UK’s leading Science and Technology Parks.
This development will consist of two brand new buildings offering laboratory, clean room and office space, with units ranging from 3,550 sq ft to 5,000 sq ft, for world-class science and technology companies, either graduating from the NETPark Incubator or looking to locate in this prestigious science park.
Interserve Construction Company Ltd commenced building work in February 2017, work will continue throughout the year with an anticipated completion date of early 2018. North East Local Enterprise Partnership (North East LEP) has provided £3.2m from the Local Growth Fund towards the total cost of constructing NETPark Explorer.
Find out more about NETPark Explorer here