ST2 – a start up “sustainable technology company” has completed an exchange of land in Redcar, Teesside as part of a £100 million data centre development.
The project will lead to the creation of 400 jobs in the North East, said ST2, and comes after hundreds were recently lost after the closure of the town’s famous steelworks.
ST2 has taken land which was used for the former ICI chemical works at Wilton, with the final data centre project subject to planning permission.
“Not only will this be an important source of quality jobs for the area, but demonstrates that the tech sector isn’t just a phenomenon for the south of England.”
The new data centre promises a carbon neutral footprint. A planning application has been submitted to Redcar and Cleveland Borough Council, which is expected to be reviewed over the next six months.
GDL, a North Yorkshire boutique corporate finance and advisory company, is working with a London-based special opportunities fund to raise financing for the project.
Lucy Horner, managing director of GDL, said: “The technology sector is a major source of economic growth for the UK in the 21st century, and Redcar and the North East is perfectly positioned for inward investment.
“The region has a strong workforce, available land for regeneration, and supportive local infrastructure that is attractive for innovative businesses.”
ST2 says the data centre will support a wide range of businesses. Nearby Newcastle and Sunderland have rapidly growing digital startup eco-systems.
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