Swan Hunter yard could be transformed and create 10,000 new jobs

Apr 25 2009 by Adrian Pearson, The Journal

REGENERATION bosses are to be asked to fund the purchase of the Swan Hunter shipyard to create thousands of Tyneside jobs.

Officers at North Tyneside Council are concerned that if they do not secure more than £8m to buy up the site it could stall ambitious plans to transform the North bank of the Tyne.

But with little money available, council leaders are having to approach development agency One North East to help fund the vital purchase.

If cash can be found for Swan Hunter it would be an important step towards turning the Tyne into a world leader in renewable energy. The aim is to generate around 10,000 jobs over the next 15 years and redevelop a section of the North East previously in decline.

Conservative mayoral candidate Linda Arkley last night said she backed the potential energy jobs but questioned how the council could afford to buy the land.

She said: “People need to know exactly how this is being funded because our finances are in a bad enough way as it is.

“I support the need to bring in these jobs and help turn around Tyneside, but these are not really anything new.

“They have been talked about for a long time but yet we still seem to be begging for money.

“I have met with officers at One North East asking where money will come from and they basically said they have not got much money left.