North East

£5m park boosting high-tech industry

WORK has begun on the £5m expansion of a science and technology park which is expected to help nurture the growth of the region’s high-tech firms.

Property developer Helios Properties has invested £5m in its Innovation Village project – a research and development facility on NETpark, near Sedgefield.

The cluster of business units built specifically for high-tech companies will allow firms based on NETpark to expand and establish larger operations on the site. NETpark is currently home to a research institute run by Durham University, X-ray specialists Durham Scientific Crystals and air-monitoring technology group Analytical Nano Technologies (ANT).

Alongside the current development of a multi-million pound plastic electronics centre, Innovation Village is part of Durham County Council’s strategy to build a stronger economy and attract high-quality jobs to the area. Stewart Watkins, managing director of County Durham Development Company, which runs NETpark, said it was important to see the positive effect the development would have on the region’s economy as a whole, including creating new jobs.

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