What are the 5 key reasons to invest in North East England.
1. Workforce
North East England is home to 588 overseas companies from 32 countries, employing over 27,000 people. There are a total of 76,700 business sites in the region. Expenditure on R&D by the region’s businesses is rising year on year with the latest levels of spending reaching £281m.
2. Employment
Employment levels stand at 71.7% with a working population of 1.03m. Proportion of working age population qualified to GCE A level / equivalent or higher is 47%. The latest unemployment rate in North East England is 6.1% - year on year reductions since turn of the century and unemployment in the region is now falling faster than the national level. 10% of the region’s jobs are now in the tourism sector and the industry contributes around £1bn annually to the economy.
3. Academic Achievement
Five Universities with over 50 Research Assessment Exercise 5 or 5* rated departments and 18 further education colleges attracting almost 96,000 full and part-time students. The region has the 3rd highest graduate retention rate in the UK at 59% with many of these becoming young entrepreneurs of the future - only London has a higher rate of tech start-ups than North East England. During 2003 the North East was the most active region outside of London for ‘hi-tech’ business start-ups.
4. Research
Science Parks such as Knowledge Campus and Netpark are supporting this high-tech industry growth, as is major investment into the region’s key sector strengths of health sciences, new and renewable energy and process industries.
Durham University has created a £6m integrated research centre of Bioactive Chemistry; which is linked to the £6m Integrative Cell Biology laboratories. The Centre for Stem Cell Biology and Regenerative Medicine is an interdisciplinary research centre and collaborates with the NHS and the James Cook Hospital in Teesside.
5. Development
Creative industries such as content-based businesses, which include computer games and video production, are now growing faster in North East England than in any other region of England. There are over 2,800 creative businesses operating in North East England, employing around 26,000 people making it an ideal place for business opportunity in the United Kingdom.
North East England is home to 588 overseas companies from 32 countries, employing over 27,000 people therefore making an ideal place for overseas investors looking for business opportunities in the UKor business opportunities in England.
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