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.
Drone footage courtesy of Superfly Guys
The infrastructure works were made possible thanks to a £5m grant from the North East Local Enterprise Partnership (LEP) Local Growth Fund (LGF) last year as part of the North East Growth Deal from the Government enabling works for the next phase of these ambitious plans.
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.
NETPark is already home to some of the world’s most innovative companies and the latest development could lead to the creation of around 1,400 jobs.
The project will be delivered by Lumsden & Carroll, part of the Esh Group, which has its headquarters in County Durham, and is expected to be complete by the in early 2018.
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.
Contact us to find out more about development opporunities on our website here.