Work has started to transform the old Swan Hunters shipyard into a high tech business & enterprise Park.
North Tyneside council is carrying out work to repair the Quay, upgrade access roads, install electricity, water and drainage to the 34 acre site.
The zone will allow investors on the sites to be eligible for enhanced capital allowances – providing opportunities to access millions of pounds to support their move to the enterprise zone.
It is hoped the new enterprise zone will become a hub of expertise built around manufacturing, research and innovation in the field of low carbon ..
High tech premises will then be available to rent by employers who are keen to move to the site, other benefits to businesses locating to the zone by the 31st of March 2015 will also include:
- 5 years business rate relief
- A simplified planning scheme
- Riverfront access
- Low carbon utilities
- Local business links