An investment programme valued at around £1.3 billion could see 20,000 skilled jobs arrive in Sunderland over the next decade.
Many of these jobs will be created in the car industry though other areas of the local economy will benefit from the investment too.
A large boost to Sunderland’s economy will come from the International Advanced Manufacturing Park, which will be built near the Nissan factory.
The park is expected to draw £300 million of private investment to Wearside and to create 5,200 jobs.
More jobs will be created by the £10 million Centre for Enterprise and Innovation, which will open later this year. This centre will support 400 jobs and 120 businesses.
Strategic infrastructure projects will also help boost Sunderland’s economic growth. The Sunderland Strategic Transport Corridor is set to improve transport links.
The New Wear Crossing is currently being built and a £57 million dual carriageway project – which will link the centre of Sunderland and the Port of Sunderland – will soon be under construction.
The investment programme, set out in the ‘3,6,9 Vision’ document, will be overseen by the city’s Economic Leadership Board.
The Economic Leadership Board consists of representatives from Sunderland City Council, Sunderland Business Improvement District, the University of Sunderland, developers Siglion, the Sunderland Music, Arts and Culture Trust, and other organisations.
The leader of Sunderland City Council and the chair of the Economic Leadership Board, Paul Watson, said, “The 3,6,9 Plan underpins our long-term strategic view, which has brought jobs, investment and major developments to the city.”
“Smart, sustainable Sunderland is a growing reality, one which we are all determined to continue to invest in to bring new opportunities to the people who live and work in the city.”
(Featured image courtesy of Reading Tom, from Flickr Creative Commons)