SUNDERLAND business projects are set to share in a slice of £40million of funding from the Government.
An additional £40.6million has been awarded from the Growth Deal to the North East.
Among the schemes to benefit will be Sunderland Central Business District, which is a central district/urban quarter to link the city centre with the River Wear, and Sunderland Enterprise and Innovation Hub, which will include the development of the North East’s first “Fab Lab”, which hopes to help turn ideas into products by offering access to advanced digital manufacturing technology.
A report detailing the funding and projects set to benefit was discussed at a meeting of the North East Combined Authority today.
Chairman of the North East Local Enterprise Partnership, Paul Woolston, said: “The North East’s strategic economic plan sets out an ambitious vision to transform the economy to deliver more and better jobs by enabling businesses to invest, grow and prosper.
“We are delighted the Government is supporting our proposals with more significant investment.
“The additional £40.6million endorses our approach providing investment for innovation, skills, business support and transport.
“The overall deal will act as a catalyst to lever in substantial private and public investment, creating thousands of jobs and providing sustainable and long term growth.”