Ambitious plans to create 4,000 jobs in Newcastle

Oct 26 2009 By Adrian Pearson, The Journal

He added the move will play an important part in making the UK a home for the sort of innovation normally only seen in the US.

With areas such as health care and communication technologies among the many likely to be featured, Mr Walker believes the money will produce world-leading results.

He added: "If we are not doing this then we risk not getting the big companies coming here either.

"Newcastle has to take a lead on this because if we do not we will continue to be in a situation where our economy is public sector-led.

"This sort of investment is one way to start that change."

Mr Walker went on to say that Newcastle Science city was increasingly well known throughout the world as a result of the work done to create a real economic change, rather than just a few specialist businesses.

The partnership includes Newcastle Council, development agency One North East and Newcastle University.

They have faced some criticism recently over plans for a huge infrastructure project, Science Central, amid concerns the science hub will become "just another property development scheme".

Peter Arnold, the group’s chief executive, said work on the former Scottish and Newcastle brewery site was continuing as planned. Mr Arnold is in discussions with major research firms to secure their involvement in the building site.

He added: "Some of the businesses created out of the innovation machine will fail, but we will see real jobs growth on others, especially in the ageing and energy sectors."

Overall Newcastle’s role as a Science City is expected to lead to 500 new companies by 2025.

Already set up is Innovation Scout, which helps private companies find new services and products.