15 Mar Jobs growth in County Durham higher than UK average

Latest estimates now show that there are over 200,000 jobs in County Durham; a increase of 4.7% between 2014 and 2015.

This is higher than the equivalent growth for the North East (up 3.6 per cent) and Great Britain (up 2.5 per cent).

Here at Spectrum Business Park we’re proud to be a part of that growth and looking forward into 2017 and beyond, we’re excited to watch the continuous job growth within County Durham.

In spite of any challenges that our economy has faced, Durham County Council, who are based here at Spectrum Business Park, says it has “made great strides in support of the region’s economy.”

Here’s a few of the key actions the council has taken to stimulate the local economy:

• Securing 9,232 square metres of office space for businesses in Durham City, thereby helping to safeguard 1,200 jobs.
• Investing in town centres across County Durham.
• Establishing Finance Durham, the first council-led venture capital investment fund in the north east.
• Establishing Chapter Homes, one of the UK’s first housing companies owned by a local authority.
• Securing £17 million from the EU’s Youth Employment Initiative fund to help youngsters aged 16-24 get into employment and training.
• Ensuring that – through initiatives such as partnerships with social housing providers – 10,000 people have received financial support in the last few years despite central government austerity measures.

Cllr Neil Foster, Cabinet member for economic regeneration, said: “Given the current economic climate, it’s really encouraging to see County Durham out-performing the national average in jobs growth.

Paul Wellstead, Developer of Spectrum Business Park, said: “We’re extremely proud to see the growth of jobs within County Durham and we know we will continue to see the number of jobs in County Durham rise over the next few years. We’ve seen huge growth here at Spectrum and we know our tenants have plans to continue that growth.”