Over £10 million of investment has been announced today to build state-of-the-art business facilities which will act as catalysts for further development on two sites in the Tees Valley Enterprise Zone.
Part of the investment will go to the Digital City programme of projects which is developing a ‘super-cluster’ of digital companies in the area.
The cash injection of nearly £5.4m in the Darlington Business Growth Hub on the Central Park site of the Enterprise Zone site was joined by an investment of £4.1m in Boho 5, part of the DigitalCity initiative, located in the St Hilda’s Area site.
The two sites will comprise 5,500 m² of high quality office space for small and medium enterprises operating in digital and creative sectors and expects to attract at least 25 new businesses and 600 new jobs within the first 15 years of operation.
Communities Minister Baroness Hanham said:
“I am delighted to announce investment for the Darlington Business Growth Hub and Boho 5, which will see the development of high quality premises enabling new and growing businesses to create jobs and wealth in Tees Valley. The investment will support the development of the local Enterprise Zone, acting as a catalyst for further economic development opportunities and setting the areas in motion for success.”
Councillor Tracy Harvey, Assistant Executive Member for Middlesbrough Council, said:
“Digital City and the wider Boho initiative are prime examples of Middlesbrough’s vision and ambition for its business community, and this welcome funding will help us take the project on to the next level.”
Both the Digital Hub and Boho 5 will offer links to business support services. High quality workspace and business support services will encourage, support and enable both business start-ups and existing businesses to grow.
Digital City is an initiative focused on the digital and creative sectors. Its two main projects are Digital City, which is based at Teesside University, and Digital City Business, which operates as an independently within Middlesbrough Council. Together they support businesses at whatever stage they’re at, whatever idea, product or service they have, and whatever growth potential they have. The support goes from pre-start to international trade and investment and is unique in that ‘whole lifecycle’ approach.
For further information on Tees Valley Enterprise Zone see https://www.teesvalleyunlimited.gov.uk/tees-valley/enterprise-zone.aspx.