North East of England – Overview
The North East Region of England is bordered by North Yorkshire, Cumbria, Scotland and the North Sea, the region comprises of Northumberland, Tyne and Wear, Durham and Teeside. Figures published by the Government Office for the North East (GO-NE) the regions population in mid 2006 stood at around 2.5 million. There have been settlements in the area since at least Roman times with coal mining being the predominant export for nearly 1,000 years. The main cities of the region, in modern times have undergone considerable redevelopment and improvements to infrastructure.

Economy
Traditionally the economy of the North East was heavily dependant on mining and the shipbuilding industry, both of which have declined throughout the UK as a whole. Nowadays high-tech industries are coming to the fore as the backbone of the regional economy. According to the 'Passionate people, Passionate places' Regional Image campaign “One third of all UK biotechnology companies are based in North East England, and the region has the highest retention of graduates outside London.” Also The North East Process Industry Cluster (NEPIC) comprising of biotechnology, commodity chemical, petrochemical and speciality companies, provide employment for 34,000, generate around £8bn of GDP and is about a quarter of regions industry sector.

Tourism is a sector that is fast becoming important, the Sector Skills Council for the Hospitality, Leisure, Travel and Tourism industries state that the tourism sector accounts for 10% of the North East’s jobs and “contributes around £1bn annually to the economy”.

UK Trade and Investment service in mid 2005 stated, “North East England is one of only two UK net exporting regions with a positive balance of payments” and “is home to 588 overseas companies from 32 countries, employing over 27,000 people”.

Infrastructure
The North East has 2 international airports Newcastle and Durham Tees Valley, which are around 40 miles apart and give the region rapid access to most major European destinations as well some locations in North and South America, North Africa and the Middle East. From Newcastle airport the Newcastle Metro connects to both Newcastle and Sunderland city centres as well as connecting to the coast. In figures released by the Civil Aviation Authority, Newcastle airport dealt with 5,407,000 terminal passengers in 2006, an increase of 60.2% over 2001 and Durham Tees Valley 900,000 an increase of 23.2% over 2001.

The Port of Tyne is the regions chief import/export hub, which was awarded the accolade European Port of the year 2007 by the Institute of Transport Management, as the most progressive UK Port. The region benefits from its position on one of the main north-south rail routes, giving excellent access to the south coast of England as well as Inverness in Scotland. Also the A1/A1(M) links the region by road to both north and south, additionally the A69 provides access to Carlisle and the west coast.

Workforce
In mid 2006 the regions workforce was about 1.2 million according to GO-NE. Within the North East there are 5 highly rated Universities, which according the UK Trade and Investment service, the regional retention rate of graduates is 59%, placing the North East 3rd in the UK. There are also many colleges providing a diverse range of course’s to fit most specialised and niche industries.

Standard of living
For many inhabitants of the region, the quality of life has improved greatly in recent years with investment in many social sectors. For the visitor to the region or those looking to move to the North East there is more than the traditional stotty cake to look forward to. Most of the towns and cities are only a short distance from spectacular country scenery and locations such as the Pennine Hills, the Cheviot Hills and the Northumberland National Park. Due to being a largely rural region, it is relatively easy to find restaurants and shops serving and selling high quality local produce.

Business costs
In the autumn 2007 Regional City Centre Office Markets Outlook, published by GVA Grimley, grade ‘A’ office prime rents in Newcastle City Centre were £237 per square metre per annum, up from £215 the previous year. These costs are markedly lower than all but Cardiff and Liverpool of the other 8 regional cities in the report.