News Article

A £1.4million high quality managed business centre in County Durham is set to accommodate over 20 start-up businesses and create 43 new jobs.

Phase 2 of Incubator Units at Innovation House has been given the go-ahead following on from the success of the first phase at South Church Enterprise Park, Bishop Auckland.

It will continue to help address demand for good quality office accommodation in the area and the need to secure sufficient space for ‘grow on’ businesses.  The initial phase of Innovation House, together with the nearby managed workspace development, Enterprise House, are fully let.

The project will provide flexible workspace, high specification accommodation for ICT users as well as an established supportive environment for business.

It is expected the centre will attract individuals starting new ventures, corporate and university spin outs, existing SMEs and companies seeking high profile office accommodation.

Regional development agency One North East has approved just over £750,000 through the County Durham Economic Partnership, which has been working together with Wear Valley District Council to ensure the project comes to fruition.  The European Regional Development Fund, Neighbourhood Renewal Fund as well as the Wear Valley District Council have provided the rest of the funding.

David Allison, One North East’s Director of Business and Industry said: “The approval of this second phase is testament to the success of the flagship development and the ongoing need to provide high quality tailor-made accommodation in the area. 

“Increased opportunities for self employment and community enterprise are important for the Wear Valley district and the wider region to continue to flourish. It will also help diversify the local economy by expanding the range of business support and training services available within the area.”

There will be 26 business units created ranging between 25 and 50 sq m each surrounded by high quality external environment on the South Church Enterprise Park.

The centre will provide ‘easy in easy out’ facilities for SMEs that are competitively priced with access to a full range of services including broadband, access to admin services, reception, kitchen, meeting rooms, presentation facilities and network opportunities as well as car parking.

Wear Valley District Council, who is managing the development, is seeking to reach BREEAM ‘very good’ status, utilising sustainable construction methods and incorporating sustainable energy features, innovative design and good quality landscaping.

Bob Hope, Director of Regeneration at from Wear Valley District Council added: “This project demonstrates how Wear Valley District Council and One
NorthEast have been working together to tackle the problems facing the district.  Our continued cooperation on future projects will enable us to create the conditions in which more local jobs can be created while the local economy continues to grow and flourish.” 

The development is in keeping with County Durham’s strategy to secure a network of managed business facilities across the districts to offer opportunities for entrepreneurship and indigenous business growth.

Councillor Brian Walker, Chair of the County Durham Economic Partnership said: "Innovation House Phase 2 has been identified as a key investment priority for the County Durham Economic Partnership, due to the current high demand for managed workspace within the Wear Valley District.

“The phase 1 activity has created a number of employment opportunities for the residents of Wear Valley, with the rate of take-up of the premises being evidence of its success. The Partnership look forward to working with Wear Valley District Council over the coming months.”

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For more information please contact: Alison Laggan, press office, One North East on Tel: (0191) 2296894, mobile no: 07785 233895
e-mail : alison.laggan@onenortheast.co.uk 
Notes to editors:
1. Since 1999 the Agency has created/safeguarded 86,607jobs, helped 17, 029 business start-ups and established businesses with specific projects. It has also provided more than 25,821 learning opportunities last year alone. Aimed at adults who are economically active, these opportunities include workplace training courses, home learning and any programme of over 30 hours in length that can help an individual improve their job or career prospects and improve the contribution they make to their business.

2. During the financial year 2004/5 the Agency offered 24 firms £6.995million in Regional Selective Assistance funding – if the grant offers are accepted they will create 1,184 jobs and safeguard a further 640. The grants will encourage the firms to invest £56.833 million into their businesses. RSA Grants have been replaced by the DTI with a new investment product the SFI – Selective Finance for Investment. The new grant will target high productivity, highly skilled projects building on the existing RSA criteria of job creation and retention. During 2004/5 the Agency offered 96 firms £17.143 million in SFI funding – if the grant offers are accepted they will create 2,818 jobs and safeguard a further 1,572. The grants will encourage the firms to invest £122.554 million into their businesses.

3. One North East works to improve the conditions for businesses in order that they thrive in the region, grow and create jobs. Good transport links, access to the latest technology, research and development, well-trained staff and sound, simple business support are the key issues that affect the business climate - these are the issues that One North East is charged with tackling.

4. One North East is now the Region’s strategic lead agency on: Urban and rural regeneration, Business support, Tourism, Research and Development, Skills and education and ICT and new technologies.

5. One North East is leading the regional image campaign for North East England. The campaign harnesses the region’s best assets to position North East England as a great place to do business, live, work, study and visit. Aiming to create strong and positive new perceptions about the North East regionally, nationally and internationally, the "Passionate People. Passionate Places" campaign features the very best the region has to offer through its people and the key areas of history and heritage, coast and countryside, city culture and innovative business. For more information please visit www.northeastengland.co.uk