Northeast programs are intended to help companies develop “future markets”

Further details on programs to help companies in the region gain access to “future markets” and to lead the way in new technologies have been released.

Gateshead Council has raised more than £ 2.1 million from the government’s community renewal fund for four projects to help the city’s economy recover from the effects of the Covid-19 pandemic.

Grants received include an allocation of £ 730,000 to help those furthest from the labor market find work, while the Immex City program aims to help companies in Gateshead’s immersive technology sector expand and create new jobs.

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The city was also one of several areas, including Sunderland, to receive funding from the Future Markets Accelerator program, which aims to help SMEs gain a greater share of emerging markets by prioritizing innovation and product development.

Gateshead has also received £ 550,000 for plans to revitalize Riverside Park and the Dunston Staithes area, a proposed ancient monument and listed building that has suffered from multiple fires in recent years.

It is hoped that the project, on which the Gateshead Council will work with the National Trust and the Tyne and Wear Building Preservation Trust, will improve the visitor economy in the area.

Coun Malcolm Brain, Gateshead Council Cabinet Member for Economics, said, “We are delighted that these applications for the Community Renewal Fund have been successful. There are some fantastic projects and very resourceful people here who are working really hard to move their projects forward and help the local economy recover from the effects of the Covid-19 pandemic. “

Elsewhere, from the Community Renewal Fund, Durham County Council has received £ 836,724 for an emerging markets innovation accelerator program, while the North of Tyne Combined Authority has received more than £ 1.5 million in funding for two projects, one of which is 40 online training centers We are setting up for people who do not have access to the internet to improve their digital skills and open up digital job opportunities.

Sunderland City Council has received a total of £ 1.6 million in grants for five projects, including programs to stimulate business innovation and support the city’s voluntary sector.

However, a total of 30 projects, including projects to promote jobs in the region’s rail industry and in the green economy, could not win any funding.

Leveling Up Secretary Michael Gove said, “We are building in every corner of the UK and supporting locally run projects that make a real difference for communities and help meet our net zero commitments. There is incredible talent scattered across our great country and this investment will create opportunities to match. “

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