MORE than 130 North East jobs will be created by an investment package worth more than £17m.
Businesses in Northumberland, North Tyneside and Gateshead will benefit from the money, which includes nearly £2m of Government support approved by the Regional Growth Fund (RGF).
The money also secures around 50 further jobs.
The bid was developed by Northumberland County Council and Tyne & Wear Development Company, working together with the companies.
The grant from the RGF unlocks more than £15m investment from five companies which will be used to support growth plans. Leading companies in the healthcare, life sciences, advanced manufacturing and engineering sectors will now use the cash to boost international trade.
The companies are Aesica Pharmaceuticals Ltd at Cramlington, Piramal Healthcare UK Ltd at Morpeth, Precision Hydraulic Cylinders (UK) Ltd at Cramlington, Rettig (UK) Ltd at Team Valley and Shasun Pharma Solutions Ltd at Dudley.
Paul Buie, manager of Tyne & Wear Development Company, said: “We are delighted that our collaborative approach has been so successful.
“Pooling our efforts shows just how effective partnership working among local business support agencies can be and how the region can benefit from an integrated approach to economic development activities.”