Sedgefield's NETPark worth £50million expansion

Science and Technology Park that has been regarded as A 'true success story' could earn an extra £50 million.Durham County Council Cabinet will consider investing in Phase III of North East Technology Park (NETPark) at Sedgefield.The six-acre (2.5-hectare) expansion will create up to 1,250 jobs and the £49.6 million investment will recoup from tenants within 35 years, the council said.

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NETPark opened in 2000 and currently has 40 companies.The extension will take two years to build and will “provide a wide range of job opportunities. including scientists, technicians, administration, accounting, marketing, IT and logistics," a council spokesman said.James Rowlandson, Cabinet Member of the Council on Resources, Investment and Property, said: “NETPark is a true success story and it still holds true.

It's home to some really innovative companies. Some of the places that work are truly groundbreaking. and played a key role in cementing County Durham's reputation as a great place to do business.It's very exciting to be contemplating phase three.In a report sent to the board, Amy Harhoff, the organization's director for economic recovery and growth, said 92%