An electronics firm behind next generation circuits has revealed plans to create more than 100 jobs in a near £70 million expansion.
PragmatIC Semiconductor is building a factory in Meadowfield, near Durham City.
Bosses say the site, dubbed PragmatIC Park, will deliver around 125 new posts – doubling the company’s existing workforce to about 250 by December – and ramp up circuit production into the billions.
Work is now underway to fit out the base and install new production equipment, with operations expected to begin next year.
The Meadowfield plant will join PragmatIC’s existing factory on NETPark, in Sedgefield, County Durham, with chief executive Scott White hailing the expansion as a “clear commitment to bring innovative technology, high-value manufacturing and skilled jobs to the North East”.
As thin as a human hair, PragmatIC’s circuits are used to monitor a range of goods, from consumer items to pharmaceutical products, with live information relayed to smart devices.
They are also used in packaging and documentation to improve security and identification. Scott said: “As well as providing an ideal home, we will also be inviting selected ecosystem partners to work with us to create a centre of excellence for flexible semiconductor design and integration.”
The firm’s growth plans come after it secured nearly £70 million investment, which included £3.8 million from packaging firm Amcor.