Sedgefield's NETPark sees £50m expansion approved

The development could see an additional 1,250 jobs brought to the technology park

A £50m expansion of a science and technology park has been agreed by councillors.

The third phase of the North East Technology Park [NETPark] in Sedgefield could create up to 1,250 jobs, Durham County Council's cabinet heard.

The new buildings could open by July 2023 with roles for scientists and technicians as well as IT and administration staff.

NETPark, which opened in 2000, hosts 40 companies employing 600 people.

The extension would bring more than £625m to the local economy, according to a report presented to the cabinet on Wednesday.

Amy Harhoff, the council's corporate director of regeneration economy and growth, said the investment was central to the ambition to "build a more productive North East".

The council aims to recoup the £49.6m used to finance the six-acre expansion (2.5 hectares) from tenants within 35 years, according to the Local Democracy Reporting Service.

Deputy council leader Richard Bell, who is also cabinet member for finance, described NETPark as a "huge success story and one which we need to celebrate and promote".