North East of England
Over recent years the North East of England has transformed its economy by successfully embracing new industries such as automotive, microelectronics, biotechnology, and new and renewable energy. Today the North East is home to Europe’s most productive car manufacturing plant operated by Nissan in Sunderland. Durham based Bede plc won the "Best Technology" award at the 2005 London-based PLC Awards. A quarter of the UK’s chemical industry is on Teesside and the UK’s first Genetics Knowledge Park is in Newcastle upon Tyne.
One NorthEast is the regional development agency for the North East of England. The agency's investment in R&D is sucessfully driving forward the region's economic prosperity.
The North East has a strong manufacturing base with a growing services sector, however, much of the region’s production is exported to global markets. The region is host to over 500 leading global companies and is amongst the most dynamic in Europe with a long track record as one of the principal centres of economic activity in the UK and is an integral part of the world's largest trading block - the European Economic Area - larger than the USA, Japan and Canada combined.
The North East of England has a solid reputation for innovation that is driving its industrial diversification. The regional universities are active in connecting with national and international businesses, supporting the growth of the North East’s economy.
The key regional sectors include:
- Automotive manufacturing
- Chemical industries
- Electronics & microelectronics
- Life sciences & biotechnology
- New and renewable energy
- Light & heavy engineering
- Arts & creative industries
- Further Education
- Government
Innovation and diversification has and will continue to underpin the North East's future economic development, activities and progress. Both sit at the heart of the region’s economic development strategy established by One NorthEast - Strategy for Success.
The Strategy for Success initiative aims to strengthen links between the region’s research capabilities, capacity and expertise with commercial opportunities. The overall objective being; to yield greater economic growth in the form of business expansion, increased exports, new knowledge and know-how, further inward investment from multinationals and a greater number of high-tech start-ups.