Money talks as 400 jobs come to region

Mar 13 2007 By The Journal

Helen Logan takes a look at what else has been happening around the region during the last few months.

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A multi-million pound investment in the North-East is creating more than 400 new jobs.

GE Money is expanding its operations in the region with the construction of a purpose built 100,000sq ft office at Cobalt Park in North Tyneside that will be capable of accommodating up to 1,000 people.

The £5m investment continues to build on its current North Tyneside operation, which opened in 2005 and employs 450 people. The construction is now under way and is due to be completed and fully operational by June 2008.

Stewart Macphail, chief executive office of GE Money Cards UK, said: "This multi-million pound investment announced represents the biggest investment in property GE Money has ever made, and reinforces our commitment to growth and job creation in the UK. The new development will create over 400 new jobs - taking our local workforce to over 800 people."

Alan Clarke, chief executive of regional development agency One NorthEast, said: "GE Money's reinvestment in its Cobalt Park business is a huge vote of confidence in its workforce and the North-East economy."