Place strategy

County Durham – a place to invest and grow

Durham County Council is taking part in UKREiiF this week, a national exhibition designed to showcase the scale of development progress across the UK and showcase future investment opportunities to investors, developers and commercial occupiers around the world.

With £2 billion of investment, planned or underway, and an ambitious ten-year economic strategy, the council is keen to stress that Durham is an ideal location for investment and development.

A hotbed of innovation, the county has seen its high-tech sector strengthen, along with the growth of Britain’s burgeoning space sector.

With a top 100 university nearby and four more in the region, it has one of the largest talent pools in the UK.

Key to success is the quality of Durham’s strategic business locations, which provide the facilities and environment for businesses to grow and thrive, as well as easy access to global markets with excellent connectivity by road, rail, air and sea.

At the event, the team from Business Durham, Durham County Council’s business support service, will highlight the strength of the region’s high-tech businesses, with dozens of thriving innovative technology companies. County Durham sets the bar high.

The team explains why Durham is an ideal location for business – companies like radio frequency (RF) communications specialist Filtronic. The company has ambitious plans for expansion within NETPark where, since 2014, continuous innovation has enabled the company to grow its revenue, workforce and footprint.

John Bone of RHEA

Marketing Director Fin Farrelly explained: “County Durham has a lot to offer, especially in terms of funding such as capital grants, incentives and investments, as well as access to a workforce. qualified work.

“With our own investment, this has allowed us to expand our manufacturing and testing facilities so that we can produce larger quantities, which allows us to win contracts with other companies, thus accelerating our growth plans.

Filtronic is one of over 40 companies based at NETPark that together employ over 600 people, from university spinouts, start-ups to more established companies.

Durham is also home to a growing number of space sector companies as well as the North East Satellite Applications Center of Excellence (NESACoE), which has helped position the county firmly on the intergalactic map.

Led by Business Durham, NETPark-based NESACoE was set up to deliver the region’s space strategy and has engaged with over 700 organizations and helped businesses secure over £10m from funding.

One of these companies is the RHEA Group, an internationally recognized space and security engineering company, which provides services to aerospace, security and defense companies around the world.

RHEA Group Chief Commercial Officer (CCO) and UK Vice President, John Bone, said: “It’s easier to grow here than in some parts of the UK with postgraduate programmes, the opportunity to develop physically the corporate footprint and access to resources and people. .

“There is a very collaborative environment and we work closely with other companies in the space and high-tech industry that complement what we do, to make things happen.”

County Durham has the ambition to build a prosperous and sustainable future by promising a healthy and fulfilling lifestyle to all of its residents through access to good housing and employment.

To achieve this ambition, £3.4 billion will be invested in creating jobs, attracting inward investment and building new housing.

The biggest projects include £200m for the development of Aykley Heads; £400m projects in Bishop Auckland; £58 million for the NETPark Phase 3 extension; £200m at Riverside, Durham City and £44.5m at Jade Business Park, Murton.

The investment is expected to generate 30,000 new jobs by 2035 and 25,992 new homes to be built by 2035.

With opportunities for businesses already in attendance and new ones looking to relocate or expand, the event is your chance to shout out all the county has to offer.

To find out more about current and future development and the support and advice available from Business Durham, visit www.businessdurham.co.uk.