We welcome agreement of £27 million to unlock new jobs and urban regeneration in Durham city centre.
The North East Combined Authority (NECA) has agreed the investment to pave the way for the creation of a high-tech workspace for cutting edge businesses.
A new Durham Mayoral Development Zone (MDZ) is to be created to drive forward plans for the Aykley Heads site, in the Durham Innovation District, a strategic partnership between Durham County Council, the joint venture delivery partner Muse, and the University.
Durham University is committed to being a key partner in driving innovation and growth in our city and region. The Durham Mayoral Development Zone and the accompanying financial investment will drive further economic, social and cultural development in our city and region, increasing the attractiveness of Durham as a destination for work, study and living.
Kim McGuinness, North East Mayor, said: “I want to give Durham a major boost, establishing a new home for innovation right at the heart of the city which will create more jobs and a vibrant place where people and businesses can thrive.
“Our people are our biggest asset, and we want to keep more of our emerging talent within the North East to give local people access to the best opportunities. I want to ensure that graduates in the region can see their future here - investing, working and living in our amazing cities and villages.
“Durham is iconic and its historic University and Cathedral are well-known across the globe, but it’s also a key strategic city with excellent transport links and home to many amazing businesses. I want more growth right across the North East, so I'm pleased we are on our way to establishing a new Mayoral Development Zone for Durham focussed on innovation and regeneration of the city including the area in and around County Hall.”
Councillor Andrew Husband, Leader of Durham County Council and North East Combined Authority Cabinet member for A North East We Are Proud To Call Home, said: “We’re delighted with this announcement of £27m from the Combined Authority which is a further boost to our plans for Aykley Heads to be the beating heart of the Durham Innovation District.
“Aykley Heads is already a great place to do business, as evidenced by the top class organisations already based here; boasting excellent transport links and close proximity to our World Heritage Site Durham Castle and Cathedral. What’s more, it will soon be a place to enjoy culture, when our new attraction, The Light, opens.
“We’re getting ready to leave County Hall to pave the way for land at Aykley Heads to be developed, providing the opportunity for thousands of new quality jobs to be created. This funding and the creation of the Mayoral Development Zone can only help accelerate our exciting vision for the site.”
/prod01/prodbucket01/media/durham-university/central-news-and-events-images/83431-1920X290.jpg)