North East heading for ‘bumper year’ for inward investment – LEP

This year (2021/22) is shaping up to be a bumper year for inward investment in the North East, according to the latest update from NELEP, the North East Local Enterprise Partnership.

The report presented to the NELEP board yesterday says many high-profile projects have been announced in a variety of sectors.

It names Envision/Nissan (batteries and motor vehicles at Sunderland/South Tyneside), Just Eat (customer service, Sunderland); Smulders (offshore energy, North Tyneside), Xplor (digital payments, Newcastle), JDR Cables (subsea cables, Blyth); Equinor/SEE (offshore energy, Port of Tyne); Amazon (customer service, Durham); and Monstarlab (digital consultancy, Newcastle).

‘Not all of these investments will be completed this year but collectively they involve £billions investment and many thousands of jobs’ says the NELEP report, which does not cover the Tees Valley area.

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One thing that is encouraging about the above list is that of the eight developments listed, four are broadly in the green energy sector and two in the digital sector.

It supports the cautious optimism expressed on this website on August 19 at the way the private sector was adapting to climate change and the green revolution in particular, to the benefit of both the North East and Tees Valley.