Parts of County Durham could form an Investment Zone if proposals from Durham County Council are successful.
The authority has submitted a bid to make NETPark in Sedgefield and Aykley Heads in Durham City part of the Government scheme, which includes tax incentives on premises, National Insurance contributions relief, enhanced capital allowances on the purchasing of equipment as well as stamp duty relief.
NETPark is home to a number of the North East’s most innovative science and technology businesses – including the likes of PragmatIC, Kromek and Dyman. The site is currently home to more than 30 companies providing over 550 highly skilled jobs.
Kromek Group plc designs, develops and produces x-ray and gamma-ray imaging and radiation detection products for the medical, CBRNe security, Homeland Security and civil nuclear radiation detection markets.