Industrial units that could help businesses create 100 new jobs are being created on a business park in County Durham with the help of Government support.
The eight new industrial workspace units are being created on the Hownsgill Industrial Park in Consett following investment from Government’s Getting Building Fund. The park is built on the site of the former Consett Steelworks, and it is hoped that its expansion will allow existing SMEs in the area to grow and create new jobs.
A grant of £448,000 has been awarded to Project Genesis Ltd to enable essential infrastructure and remediable works to be carried out before construction of the eight new industrial workspaces could begin.
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The money has come from the Getting Building Fund, which was established in the coronavirus pandemic to kickstart the economy, create jobs and help areas realise growth opportunities. The North East Local Enterprise Partnership (LEP) is managing £47m awarded through the Getting Building Fund to support capital investment across the North East.
Mike Clark, director of Project Genesis, which is managing the regeneration of the former steelworks site on behalf of the Genesis Trust, said: “The ongoing redevelopment of Hownsgill Industrial Park is helping to bring new investment into Consett, create new jobs in growing sectors in the North East, and create opportunities for existing businesses in the area to expand, sustaining and growing the local economy.
“There is strong demand for new high-spec industrial units in County Durham and we expect Bessemer Court to provide a boost to the local economy as more businesses arrive on site.”
Helen Golightly, chief executive of the North East LEP, said: “Despite wider economic challenges, we are seeing continued demand for smaller workspaces that provide the right environment for growth.
“The targeted investment from the Getting Building Fund Commercial Property Pilot scheme has helped with the construction of the new industrial units here at Bessemer Court and across the region following the coronavirus pandemic, meaning the North East is now well placed to meet the needs of businesses and support future job creation.”
Hownsgill Industrial Park has been identified as a strategic employment site and key to the continued economic growth of Consett and County Durham.
The Government grant is likely to lead to investment from Project Genesis and private investment of around £1.9m.
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