Tech & Trends
Sage announces £40 million investment in the North East
July 4, 2019
Cloud software firm Sage has announced that it will invest £40 million into its North East operations over the next three years with the aim of creating an improved experience for customers, staff, and partners.
As part of the investment, the company will be relocating its UK headquarters from North Park in County Durham to Cobalt Business Park on Tyneside.
The brand-new hub will open in late 2020 and will provide a state-of-the-art working environment for the company’s staff.
It will occupy two existing buildings on the Park and include a total re-fit of the interior, with further plans to be announced over the next 12 months.
Steve Hare, CEO of Sage, said: “The UK’s tech sector is fast becoming a centre of global excellence, and Sage is particularly proud to be part of this, and to have such a significant home in the North East.
“Our colleagues are one of our main strengths, and I’m pleased that this investment will create a great experience for them and a fantastic environment for innovation– both are crucial to our vision of becoming a great SaaS company.”
Mayor of the North of Tyne Jamie Driscoll said: “This really is excellent news. Sage is a global business and a global leader in technology.
“To invest another £40 million in a new world-class technology hub is a great vote of confidence in the North of Tyne.”
Sage also announced plans to hire around 500 new workers nationwide across the fields of product engineering, data science, support, and sales.
This will push the firm’s investment in the UK’s tech sector to over £300 million by the end of 2020, an industry that’s worth nearly £184 billion, according to 2018 figures from Tech Nation.
Additionally, Sage will focus on developing their workforce by investing £1.6 million into leadership and innovation training, as well as hiring over 150 apprentices and graduates.
They also confirmed plans to continue the rollout of their Future Makers workshops, which provide guidance for trainees in using AI to make a positive impact.