Big changes are ahead for Sunderland, its forward-thinking local authority and diverse business community are creating a place that is truly at the forefront of commercial innovation, particularly in key sectors including: automotive and advanced manufacturing; software; offshore renewable energy and subsea engineering; and financial and customer services.
Sunderland has an excellent record in attracting inward investment. Today the city is home to more than 87 overseas-owned companies, employing 26,700 people. During the last ten years alone there have been more than 248 new projects in the city, creating 17,975 jobs and securing £2.3billion of capital investment.
Global companies like Berghaus, Nike, Nissan, Barclays and Liebherr call Sunderland home, and high value technology businesses like Saggezza and Epic Games are among those that are growing at pace here – it is easy to see why investors are ready to take advantage of the vast opportunities that come with investing in a city on the up.
Regeneration is at the heart of the city’s vision - through strong partnerships more than £1.28billion of public and private sector investment over the next nine years, supporting economic growth, international investment, innovation and enterprise. Projects include Sunderland Strategic Transport Corridor (SSTC) incorporating the New Wear Crossing, significant investment in Sunderland’s seafront and a new International Advanced Manufacturing Park (IAMP) in partnership with South Tyneside Council.
The city centre is at the heart of Sunderland’s evolution and will see major improvement work, with investors having the chance to stake their claim on a city that truly is on the verge of a major social and economic revival. It is one area of Sunderland already benefitting from the transport infrastructure changes underway. SSTC is a dual carriageway link between the A19 and the Port of Sunderland which will maximise investments in St Mary’s Boulevard and the New Wear Crossing will fully open up export routes and opportunities for development in Pallion, Deptford, Farringdon Row and other sites to the south of the River Wear.
Work on Sunderland’s £100m new wear crossing is taking a huge step forward with the launch of the bridge deck across the River Wear. The bridge, between Castletown on the north bank of the River Wear and Pallion on the south, will help support key development sites and improve traffic flow across the city from the A19 through to the city centre and the Port of Sunderland, creating further opportunities for regeneration and investment. Owned by Sunderland City Council, the Port has seen waves of investment boost its capabilities and is ideally placed to take advantage of opportunities in offshore, renewable energy and subsea engineering markets. The Port positions the city well to exploit the region’s strengths in the sector and, with newly connected rail lines and excellent road connections, its capabilities are growing and developing at a rate of knots.
The formation of an International Advanced Manufacturing Park (IAMP), a joint venture between Sunderland and South Tyneside, will attract more than £300m of private sector investment and create more than 5,200 new manufacturing jobs on land to the north of Nissan. More details on this significant project can be found in the automotive supplement on page 54.
Sunderland really is strengthening its offer to ensure the city remains as attractive as possible for investors.
For more information visit www.makeitsunderland.com