Gateshead Quayside development venue named as The Sage

The complex is due to open in 2024

A business and entertainment complex on the banks of the River Tyne is to be named for the local tech giant which is putting £10m towards it.

The £300m arena and conference centre - The Sage - will sit between the Baltic art gallery and the Sage music centre on Gateshead quayside.

Sage Group said it would provide a £70m annual boost to the local economy and create 2,000 jobs.

Gateshead Council said it would "showcase regional strengths".

Due to open in 2024, the 54,500 sqm complex will be operated by ASM Global which also operates Newcastle's Utilita Arena.

'Region's brilliance'

Steve Hare, CEO of Sage Group, said: "Sage's heart has always been in the North East, and today's announcement embodies our purpose - to knock down barriers so everyone can thrive.

"The Sage brings the world to the North East's front door, providing a platform to celebrate the region's brilliance."

Councillor Martin Gannon, leader of Gateshead Council, said: "The project creates jobs, as well as training, education and supply chain opportunities, and will attract millions of visitors.

"The council is proud to be leading on this development and delighted to have Sage, a home grown, global business, join the project as our naming partner."