Still engine room of region
Home for many of the region's Top 250 companies, Tyne and Wear has much to offer growing businesses, as Paul Buie explains.
THE Journal's Top 250 is a reminder of the success that the North East's leading companies achieve.
While it would be foolhardy to claim everything in the garden is rosy in 2009, we have seen many firms continue to go from strength to strength in spite of the tough trading conditions.
These companies are an important barometer of economic success – and their achievements, even in the current climate, continue to create jobs, wealth and prosperity for our region.
A significant proportion of the names on the list are in Tyne and Wear. The region’s economic landscape may have changed over the past two decades, but Tyne and Wear remains an engine room for the North East economy.
The area is a good place for business growth – offering a low cost base, great facilities, skilled labour and excellent business support. In the current climate, easy access to business support is crucial and there’s real commitment among business support agencies to work together for the region’s good, helping established businesses as well as encouraging start-ups.
Tyne and Wear Development Company has been working with business investors for more than 20 years and its services remain in strong demand. The broad spectrum of companies and industries requiring help reflects the growing diversity of the regional economy.
While the Top 250 still includes many manufacturing and engineering firms, sectors such as healthcare and life sciences, chemicals and renewable energy are also represented.
Over the past 12 months, Tyne and Wear Development Company has worked with investors on a wide range of projects, including assisting American giant Convergys.
Help has also been provided to manufacturing firms including Rayovac (batteries) and Faraday Printed Circuits, allowing them to invest in new technology and continue to punch their weight in the global market.
A key issue for many firms is finance and local businesses are fortunate to be able to access a number of streams of funding via the regional development agency One North East and Business Link.
Tyne and Wear Development Company has been working closely with these agencies to help businesses secure the finance needed to create jobs and invest in technology and property.
While the market has slowed, investors are still looking for premises to expand their business. This is another area in which Tyne and Wear enjoys a natural advantage, with many of the best office and industrial facilities in the UK.
Across the region we have business parks of the calibre of Doxford International, Cobalt, Quorum, Baltic Business Quarter and Newcastle Great Park, to name a few – all offering state-of-the-art facilities and excellent connectivity.
Exciting developments and initiatives are under way to add to these opportunities and stimulate further growth in Tyne and Wear. Real progress is being made around Sunderland’s Software City project with developments such as the e.volve centre at Rainton Bridge helping to spin out new, young and ambitious software companies. Similarly, Newcastle’s Science City project is taking its first steps towards attracting fresh investment from companies around the world and building a cluster of scientific expertise in the city.
For businesses keen to make the most of these opportunities, Tyne and Wear Development Company should be first port of call. It can help with all aspects of an investment project.
Paul Buie is manager of Tyne and Wear Development Company.
