Up to 500 new jobs could be created after politicians agreed to invest £10 million in the North of Tyne’s digital economy.
For more information, contact #NorthofTyne at enquiries@northoftyne-ca.gov.uk
The cash boost represents 17 per cent of the budget over the next three years – the North of Tyne Combined Authority’s biggest spending commitment since it was set up in November 2018.
Between 2020-23 funds will be spent on investing in small and medium-sized businesses, training hundreds of people in digital skills alongside the private sector and growing the digital sector with new business start-ups and business acceleration programmes.
More than half of all digital jobs in the North East are in the North of Tyne area. The Combined Authority hopes to maintain the rapid progress with this latest investment.
Cabinet member for business competitiveness, Cllr Nick Forbes, welcomed the proposal.
Councillor Forbes, who is also leader of Newcastle City Council, said: “We can’t be an analogue region in a digital world if we are to compete successfully at home and abroad.
“Big data, cloud computing and 5G give us new opportunities to create jobs and grow our economy, that’s why we are looking to make this major investment now.
“Our devolution negotiations with Government were all about people. This investment underlines that by showing confidence in our communities, businesses, and their ideas we which can use to create the jobs of the future right here in our region.”
North of Tyne Mayor Jamie Driscoll added: “We want to have decent jobs in the North of Tyne area so that people don’t have to move down to Leeds or London.”
It’s estimated the £10 million funding will attract a further £25 million of private sector investment.
£1.5 million of the £10 million will be targeted at small and medium-sized businesses to help them adopt digital systems and work practices.
The blueprint was passed by Cabinet on January 28 and came just days after the BBC Director
General praised Newcastle as a city “looking for fresh ideas, collaboration and innovation,” and announced a new tech centre to create the next generation of software engineers, product developers and data scientists.
Research published in January revealed Newcastle is the top UK city when it comes to making use of technology assets to win business, improve systems and attract the best talent.
The
Combined Authority’s Digital Growth and Innovation Programme will be used to
nurture a range of expertise in gaming, age-related technology, finance tech (fin-tech)
immersive technologies and software, big data and robotics.
It
compliments significant investment in local full-fibre network which connects
people and businesses to local, national and international markets, also in
broadband infrastructure with North Sea cabling to improve international
communications.
The
programme has been developed in partnership with businesses and stakeholders,
with the Combined Authority planning an event to discuss ideas, priorities and
next steps.
Both
Newcastle and Northumbria universities play a significant regional role in the
digital economy by providing graduates and post-graduates with advanced digital
skills.
end
end
Both
Newcastle and Northumbria universities play a significant regional role in the
digital economy by providing graduates and post-graduates with advanced digital
skills.
The programme has been developed in partnership with businesses and stakeholders, with the Combined Authority planning an event to discuss ideas, priorities and next steps.
It
compliments significant investment in local full-fibre network which connects
people and businesses to local, national and international markets, also in
broadband infrastructure with North Sea cabling to improve international
communications.
The
Combined Authority’s Digital Growth and Innovation Programme will be used to
nurture a range of expertise in gaming, age-related technology, finance tech (fin-tech)
immersive technologies and software, big data and robotics.
The
research which showed Newcastle as the top UK city when it comes to making use
of technology was commissioned by ThoughtWorks. See article here: http://www.smeweb.com/2020/01/13/newcastle-emerges-top-technology/
Notes
to editors
“Devolution
works. We can do a better job through the North of Tyne than through
Westminster.”
North
of Tyne Mayor Jamie Driscoll said: “We want to have decent jobs in the North of
Tyne area so that people don’t have to move down to Leeds or London.
£1.5m
of the £10m will be targeted at small and medium-sized businesses to help them
adopt digital systems and work practices.
It’s
estimated the £10m funding will attract a further £25m of private sector
investment.
“Our devolution negotiations with Government were all about people. This investment underlines that by showing confidence in our communities, businesses, and their ideas we which can use to create the jobs of the future right here in our region.”
“Big
data, cloud computing and 5G give us new opportunities to create jobs and grow
our economy, that’s why we are looking to make this major investment now.
Cllr
Forbes, who is also leader of Newcastle City Council, said: “This is great
news. We can’t be an analogue region in a digital world if we are to compete successfully
at home and abroad.
Cabinet
member for business competitiveness, Cllr Nick Forbes, welcomed the proposal.
More
than half of all digital jobs in the North East are in the North of Tyne area. The
Combined Authority hopes to maintain the rapid progress with this latest
investment.
Research
published earlier this month revealed Newcastle is the top UK city when it
comes to making use of technology assets to win business, improve systems and
attract the best talent.
The blueprint
will be considered by Cabinet on January 28 and comes just days after the BBC Director
General praised Newcastle as a city “looking for fresh ideas, collaboration and
innovation,” and announced a new tech centre to create the next generation of
software engineers, product developers and data scientists.
·
Growing the digital sector with new business start-ups and business acceleration
programmes
·
Training hundreds of people in digital skills alongside the private
sector
·
Investing in small and medium sized businesses
If
approved, it would be spent between 2020-23 on:
The
cash boost represents 17% of the budget over the next three years – the North
of Tyne Combined Authority’s biggest spending commitment since it was set up in
November 2018.
Up to
500 new jobs could be created if politicians agree to invest £10m in the North
of Tyne’s digital economy.
North
of Tyne – £10m digital boost
Press
release