Derwentside aiming high

Nov 15 2007 By The Journal

DERWENTSIDE District Council has secured funding to develop a high-quality and innovative three-storey business centre at Tanfield Lea Business Park, near Stanley in County Durham.

Work will start on the £6.8m Tanfield Lea Business Centre in January 2008. The centre is aimed at providing a wide range of office accommodation for both business start-ups and expanding companies. It will include a new approach to lettings in order to encourage young entrepreneurs to pursue self-employment.

It is anticipated that the centre will significantly add to the Derwentside economy, helping to create over 30 new businesses employing over 200 people. It is due to be completed in March 2009.

Coun David Llewelyn, portfolio holder for economy at Derwentside District Council, said: “This is a major project in the continuing economic regeneration of Derwentside. It represents one of largest and most ambitious projects to be funded by the council and external agencies and is yet another great success for Derwentside.”

John Holmes, director of regeneration at One NorthEast, said: “I am delighted the board of One NorthEast has seen the potential of Tanfield Lea Business Centre, and approved £3m of funding to make it possible. The site will not only provide much-needed, high-quality business accommodation for new and growing businesses, but it will stimulate the development of the whole of Tanfield Lea Industrial Estate.

“The fact the units will cater for young entrepreneurs is even better as if we are to achieve our ambition of this region being a leading business location, we have to ensure the potential business stars of the future are given all the assistance they need to enter self employment.”

In addition to the £2m funding from Derwentside District Council, One NorthEast has provided £3m to fund the development while the European Regional Development Fund has contributed £1.8m.