The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
North East; Northumberland and Tyne and Wear; Northumberland
Location of affected unit(s)
North Seaton
Sector
Financial / Insurance/ Estate Real estate activities Real estate activities with own property and development of building projects 68.1 - Real estate activities with own property and development of building projects
2,000 jobs Number of planned job creations
Announcement Date
13 March 2005
Employment effect (start)
Foreseen end date
Description
Work has begun on a project which could bring up to 2,000 new posts to a jobs-blighted area of Northumberland. Regeneration agency One NorthEast hopes the scheme will help to offset recent blows to the area's economy, including the closure of Ellington Colliery. A 140-acre site at North Seaton, near Ashington is being redeveloped to house a state-of-the-art business park. More than £7 million in public cash has been earmarked for the project, which it is hoped will attract private developers. A further £1.2 million is coming from the European Regional Development Fund.
Sources
13 March 2005: BBC News
Citation
Eurofound (2005), OneNorthEast, Business expansion in United Kingdom, factsheet number 61271, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61271.
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