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Signs of recovery in our economy

March 19, 2014

Spring is in the air, and that certainly is the case for business in our region. As we’re seeing signs of Spring all around us, we are certainly seeing signs of recovery in our economy. Businesses are reporting higher confidence levels and stronger sales – the best since 2003. More new homes are being built and the housing market is picking up. There is building work taking place across the city as more private investors see the opportunities in our city – with office blocks, retail spaces, hotels and quality homes.

This is good news – but we’ve got bigger and more ambitious plans for our city. We’re committed to making Newcastle the best place to live and do business. To do this, we’re focussed on creating the right conditions for growth, investment and jobs. Our infrastructure is key to this which is why we’re investing over £450 million – ensuring better roads and better connectivity to the rest of the country. We’re also investing £4.5 million to get our young people into work and improve their skills to increase their employability.

Our city is also set to become one of the first super-connected cities in the UK through our Go Digital Scheme. The opportunities that superfast broadband creates for businesses is vast – opening up global markets, increasing our competitiveness and increases the attractiveness of our city for businesses to locate and do business with. This alone could boost our economy by £150 million. We also have a thriving digital sector in our region, with a world-wide reputation for excellence and superfast broadband will certainly cement our reputation further.

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