Funding has been secured which will help deliver more jobs, improved skills training and better roads infrastructure in the borough.
And the multi-million government funding has been welcomed as “fantastic news for North Tyneside and its residents” by officials at North Tyneside Council.
The money will enable the authority to carry out more work on the enterprise zone site at the former Swan Hunter yard and provide local people with the skills needed by employers.
The borough is getting a share of ‘Growth Deals’ worth £112m from the government, secured by North East Local Enterprise Partnership.
Mayor Norma Redfearn said: “This is fantastic news for North Tyneside and its residents.
“It is a package of funding that will help us deliver a successful economic future for our borough and our people.
“We’ve listened to our residents and know more jobs is what they want, so now we will focus on delivering that for them.
“We’ll be providing thousands of jobs by creating quality space for employers and supporting local people to access those jobs by equipping them with the essential skills needed by employers so they can access work.
“Its also great news for Wallsend as the successful development of the Swans site to provide 1,000 jobs will further contribute to the regeneration of the town.”
The funding will see £8m for the Swans site to infill the redundant wet berth to open up more space for employers; £1m to create a newly refurbished STEM (Science, Technology and Engineering and Mathematics) and innovation centre in adjacent premises at TyneMet College; and funding for key road schemes surrounding the A19 employment corridor and the A1056/A189 Weetslade roundabout.
Council chief executive Patrick Melia said: “This funding is the result of the successful partnership working in the north east, which has brought councils together to work with the Local Enterprise Partnership.
“It will not only benefit our borough by maximising the potential of the Swans and other employment sites, but will help boost the wider north East economy by enabling us to put this area on the map for offshore and renewable energy sector.
“The Swans site is very much open for business – we’ve got the infrastructure in place, a development partner actively working with us to provide premises and employers for the site, and now funding that will open up even more space for use.”
The Swan Hunter funding will be used to infill the redundant wet berth in the former shipyard site that is part of the North East Enterprise Zone
The otherwise undevelopable land will now be used to increase the supply of industrial land and premises and help meet the high demand for premises from businesses.
Work is already well underway to prepare the Swans site.
The council is undertaking £13.8m of essential infrastructure improvements to repair the quay, upgrade access roads, put in traffic signals, install electricity, water and drainage as well as constructing new roads on the 34-acre riverside site.