South Shields braced for huge employment boost as green investment at Port of Tyne to create 12,000 jobs
A jobs bonanza is set to hit South Tyneside with a £150 million upgrade of the Port of Tyne creating thousands of jobs in offshore wind and manufacturing.
The major investment will see a new 230-acre green development at the port adding 400 metres of deep-water quayside, potentially creating 12,000 jobs and boosting the economy by £5.6 billion.
The project officially launches at the Port Investment Panel at the London International Shipping Week this Wednesday and has won immediate support from Government Transport Secretary, Heidi Alexander, and North East Mayor, Kim McGuinness.
The investment will transform the north and south banks of the Port of Tyne and an independent study has suggested that the scheme could not just create 12,000 new jobs but also add more than £5.6 billion to the local and UK economy in the years ahead.
The plan for Tyne Clean Energy Park includes a kilometre of both new and redeveloped deep-water, heavy lift quay to facilitate the use of a 230-acre footprint sited within an Industrial Strategy Zone, providing similar benefits to freeports.
These include business rates relief, enhanced capital allowances, enhanced structures and buildings Allowance, employer National Insurance contributions relief and Stamp Duty Land Tax relief.
The development will focus on supporting the fast-growing offshore renewables, clean energy and advanced manufacturing sectors, a key priority for Mayor Kim McGuinness as she delivers the North East’s Local Growth Plan.
Mayor McGuinness has said her mission is to make the region the home of the green energy revolution, creating new jobs and opportunity for local people, and she said of the project: “The potential for the site is huge.
“It could generate thousands of clean energy jobs which will benefit the region in the long-term and further establish a real hub for renewables and offshore sectors on the bank of the Tyne. I look forward to seeing how the project progresses.
”It’s fantastic that the Port of Tyne is bringing forward a new clean energy terminal with a deep-water dock which will help us in our work to establish the North East as the home of the green energy revolution.”
Transport Secretary, Heidi Alexander, added: “Today’s boost for the maritime industry will supercharge growth and jobs in our coastal towns and cities — making the UK one of the best places in the world to invest.”
Matt Beeton, chief executive officer at the Port of Tyne, commented: “Accelerating offshore wind, renewable energy and advanced manufacturing is a national priority and requires decisive action.
“Boosted by Industrial Strategy Zone status that provides similar benefits to a modern freeport, our expanded Tyne Clean Energy Park is uniquely positioned to support this UK-wide initiative.
“Located close to emerging North Sea wind arrays, this nationally strategic site offers deep-water access and a major development footprint to enable the creation of world-class infrastructure to support a growing supply chain offering.
“Phase one, Howdon Quay, with a 23,024 square foot warehouse and a dedicated berth is already complete and ready for business following a £6 million redevelopment.
“Working with the Mayor, North East Combined Authority and the UK Government, we’re now ready to deliver a strategy that unlocks the region’s enormous potential and attracts global investment.”
Anyone who wants more information, or to enquire about tenancy opportunities at the Tyne Clean Energy Park, should contact: [email protected].