County Durham’s North East Technology Park (NETPark) announced on 16 February that it expects the extension of its so-called incubation space to receive new businesses in March.
The enlargement of the NETPark Incubator is expected to provide an additional 40,000ft2 for ventures.
The incubator is already home to companies such as Kromek, which has developed digital X-ray and imaging technology to combat terrorism, and ROAR Particles, which uses nanotechnology to enhance fingerprint detection.
NETPark itself has seen rapid growth in recent months with the arrival of the Printable Electronics Technology Centre (PETEC) and the planned work on Innovation Village.
NETPark’s manager, the County Durham Development Company (CDDC), has recently received planning permission to start infrastructure work to open up a further eight acres of development space.
The development of NETPark is led by Durham County Council in partnership with Sedgefield Borough Council, One North East and Durham University. It has received Regional Spatial Strategy approval to grow to 25 hectares (55 acres).
Stewart Watkins, CDDC managing director, said: ‘The demand from businesses wanting to move onto NETPark has been incredible and reflects not only the quality and scope of its facilities and support, but also the encouraging number of science and technology companies in the region.’
The NETPark Incubator currently houses seven companies, operating in areas such as photonics, nanotechnology and micro-electronics, which together employ more than 70 people. The expansion creates the potential for almost 200 jobs.