The Government has now invested a total of £379.6m in the North East Local Enterprise Partnership (LEP) area as part of the three rounds of the Growth Deal programme. This includes Local Growth funds earmarked toward the development of the International Advanced Manufacturing Park in Sunderland adjacent to the Nissan UK manufacturing facility, which will be the location for advanced manufacturing and European-scale supply chain industries and will see an estimated 5,200 jobs created in the long term. Through its Manufacturing Growth Programme, North East LEP is helping aspiring manufacturing businesses across the North East through in-depth one-to-one support from manufacturing growth expert
The Growth Deal programme is also investing in supporting science and technology companies. The Centre for Innovation in Formulation to be based at NetPark in County Durham will be a new innovation centre aimed at developing new formulation processes for use in areas such as healthcare and pharmaceuticals. The Centre will be will receive £8.9m of Local Growth Fund through Growth Deal.
We are working with UK industry to create the right conditions for competitive, world leading manufacturing businesses to flourish and grow across the UK. We are supporting all UK manufacturers by cutting business taxes, slashing red tape and investing in new scientific infrastructure on a record scale. Through our Industrial Strategy, we will make sure that we are using all the tools we have to stimulate growth in places such as Peterlee and East Durham. That means using our record investments in infrastructure to unlock growth in every part of the country; using the major new investment in research to support innovative manufacturing businesses across the country; and encouraging inward investment into the parts of the country where we need to get growth going faster.