Invest in North Eastern England

North Eastern England has an area of 9,000 square kilometers and a population of approximately 2.5 million. The region has a 38.8 billion economy and receives strong domestic orders and attains constant growth in output.

 

 

The North East region is economically optimistic, ambitious and culturally rich region with a strong reputation for industrial change and innovation.

 

 

Many major business entities have set their base in this region. Some of them are Nissan, Sage plc, Greggs plc, Siemens, Maersk, Procter & Gamble and Nike.

 

 

North East England is also gaining a reputation as a national center of excellence, when it comes to life sciences and healthcare. Healthcare and life sciences sector, with an annual turnover of £4 billion, is a major driver of the regional economy.

 

 

The process industry in North East England is flourishing with more than 350 companies that employ over 34,000 people and accounting £8 billion of GDP in the region.

 

 

It is indeed a very important center of economic activity. Following are some positive points about North East England:

 

  • At 59%, North East England has the 3rd highest graduate retention rate in the entire UK.
  • It is one of the only two regions in the UK to maintain a positive balance of payments.
  • North East England ranks second when it comes to high rate of technology start-ups, next only to London.
  • This region invests pays a lot of importance to Research and Development (R&D). The expenditure on R&D by North East England's businesses is increasing each year and the most recent levels of spending recorded is £281 million.
  • It also accommodates many creative industries including content-based businesses that include video production and computer games. Creative businesses are flourishing in North East England at a break-neck speed and the region has more than 2,800 creative businesses that employ approximately 26,000 people.
  • Its Gross Value Added (GVA) per head was £14,048 in 2005. In addition, it's increasing at a rapid pace and has exceeded the growth levels of both South East England and London.
  • The North East England boasts of excellent quality educational facilities and has 5 universities with more than 50 RAE 5 or 5* rated departments.
  • More than half a million foreign visitors visit North Eastern England each year.

 

 

North East is one among the 9 official British regions and comprises the combined area of County Durham, Tyne and Wear, Northumberland and Tees Valley (including parts of North Yorkshire). The prominent cities and towns in the North East England include Sunderland, Tyne, Middlesbrough, Durham, Darlington and Hartlepool.

 

 

For past many decades, the economy of the North East England focused essentially on two industries namely, coal mining and ship building.