Businesses flock to Wallsend

Businesses flock to Wallsend

A new £2m business centre created by North Tyneside Council has officially opened in Wallsend attracting businesses to the area from as far away as Aberdeen.

Specialising in the advanced engineering, sub-sea, marine, oil, gas and offshore renewable energy sectors, the Centre for Innovation is now home to a range of businesses.

The centre is a major part of a wider and ongoing £100m project led by the council to transform the former Swan Hunter shipyard into a hub for the renewable energy and marine sectors.

North Tyneside MP Mary Glindon and Elected Mayor Norma Redfearn officially opened the £1.9m development today (29 July).

Glindon said: “I was delighted to open the Centre for Innovation and meet some of the businesses based there.

“It’s fantastic that the development has attracted so many different businesses and it’s a major coup for North Tyneside Council that a company from Aberdeen – the energy capital of Europe – has chosen to locate part of its business at the centre.

“It shows that North Tyneside is firmly establishing itself within the oil, gas, renewable energy and marine sectors.

“This is such an exciting time for Wallsend – with extensive regeneration of the town centre and now this great facility at Swans.”

M2 Subsea Ltd is the company which has relocated to the site from Aberdeen, establishing its global technical support centre at the site.

Mike Winstanley, business development director at M2, said: “We were attracted to the region by the positive attitude and encouragement from the local authority to be located at Swans.

“Key drivers were the assistance available for new businesses in the area, the availability of experienced engineering personnel, and the proximity to one of our main supplier who is based in Newcastle – with all of these factors, the decision became obvious.”

Andrew Hodgson, chair of the North East LEP, added: “Innovation is at the heart of the North East LEP's Strategic Economic Plan for creating more and better jobs in the North East.

“To have this Centre for Innovation launching in North Tyneside is a real asset for the region and demonstrates that the benefits offered by Enterprise Zones are a major draw for businesses.”