Northumberland County Council’s development company has acquired a business park on the edge of Ashington in order to kick-start investment at the site.
Ashwood, which is located next to the A189, is designated as a Local Enterprise Zone and is home to the recently-opened large AkzoNobel paint factory.
Arch is now preparing plans for improvements of the site’s infrastructure.
Coun Richard Wearmouth, cabinet member for economic development at Northumberland County Council, said: “This is major step forward for Ashington as it will give us the opportunity to drive progress on this important Enterprise Zone site.
“The site has already shown that it is capable of housing one of the world’s most advanced paint production facilities in the form of AkzoNobel and we hope to see more of the same in the future.
“The county’s development company has significant plans for this business park. We will be making immediate improvements to raise its profile, with upgrades planned to the front entrance to give the site a stronger presence and greater sense of arrival.
“In addition, supported by the North East Local Enterprise Partnership, we are exploring opportunities to accelerate development.
“We have already been speaking with potential occupants who are keen to invest in Ashington, as they share the council’s vision of the town as being somewhere with huge potential.
“Investors have told us this location ticks a lot of boxes for them in terms of plot size, transport connections and workforce, and it comes with the added benefit of tax incentives, which are made available through the Enterprise Zone status.
“No time will be wasted in making sure we secure the investment that will bring more jobs to the area.
“The purchase is a sign of intent by this administration that we will invest in key sites that will drive proper economic growth and new jobs.”