Business & Economy
Ashwood Business Park enters new phase with £2.7 million investment
March 6, 2020
A £2.7 million investment has moved forward plans to create a new centre for advanced manufacturing and engineering at Ashwood Business Park in Ashington.
Advance Northumberland, Northumberland County Council and the North East LEP have agreed to support investment into the site in a significant boost to the economy of the area.
Ashwood Business Park is a North East LEP Enterprise Zone, meaning that organisations can benefit from 100 per cent Enhanced Capital Allowances.
The 62-acre site in South East Northumberland is at the heart of one of the region’s strongest manufacturing clusters.
It is also currently home to a major AkzoNobel paint processing facility and the headquarters of housing provider Bernicia Homes.
Birchwood Industrial Estate is also located at the Ashington site, owned by Advance Northumberland and comprising approximately 40,000 sq ft of commercial space.
The funding will be used by Advance Northumberland to undertake infrastructure improvements and encourage further inward investment and growth projects at the park.
Richard Wearmouth, chair of Advance Northumberland said: “The agreement to support investment into new infrastructure at Ashwood Business Park is a major step forward in creating a place where organisations can grow and thrive, and take advantage of a highly skilled workforce, superb location and excellent transport links in the heart of Northumberland.
“We’re delighted that Advance Northumberland, Northumberland County Council and the NELEP have come together to help turn the vision for Ashwood Business Park into reality and to develop a major asset for both Northumberland and the wider North East.”
Helen Golightly, chief executive of the North East Local Enterprise Partnership, added: “The North East Enterprise Zone sites are strategically placed adjacent to successful business clusters and key transport routes.
“We have invested in the Ashwood Business Park by supporting key infrastructure and improved road access for this important site which, when coupled with the fact that there is up to 100 per cent Enhanced Capital Allowances for those businesses locating on to the site, will make Ashwood Business Park a very attractive proposition for investors.”