What is it?
The Swans Centre for Innovation is a £2m specialist business centre which officially opened in Wallsend in July 2016.
It is a major part of our wider, ongoing £100m project to transform the former Swan Hunter shipyard into a hub for the offshore renewable energy and marine sectors.
Two floors (ground and first) of a five-storey office block within the Swans site, which is owned by us, have been converted into contemporary offices.
The ground floor features one large open plan office with four adjoining smaller offices for one tenant, while the second floor contains nine small to medium-sized offices which is currently multi-tenanted.
Who is there?
It is well occupied by a range of small and medium-sized businesses specialising in the advanced engineering, sub-sea, marine, oil, gas or offshore renewable energy sectors.
Some have even relocated parts of their business from as far as Aberdeen.
This is thanks to the Centre’s enviable position within the River Tyne North Bank Low Carbon Enterprise Zone, its excellent location close of a range of other businesses from the sector and superb transport links.
Why has it been created?
To strengthen North Tyneside’s reputation on a national scale as a first-class, accessible location for global oil, gas, renewable and maritime industries where businesses can grow and thrive.
The Centre for Innovation is part of our aim to put the Swans site back on the global map and bring much needed employment in new growth industries to the area.
The office based businesses located at the centre will link with the manufacturing activities located on the main site which aims to form a strong network and supply chain for the sector.
Who else has been involved?
Kier North Tyneside was the contractor for the Swans Centre for Innovation project.
The project has been part financed by the European Regional Development Fund (ERDF), managed by the Department for Communities and Local Government, securing just over £1m of ERDF investment.
The investment is part of a £100million project to redevelop the wider site, using a mix of funding from the European Regional Development Fund, Homes and Communities Agency, North East Local Enterprise Partnership, private sector and council investment.
How it's been funded
The scheme has received funding from the European Regional Development Fund.