The Prime Minister has confirmed a £10billion deal to create 4,000 jobs in the North East.
It will be on the failed BritishVolt site in Blyth (pictured) and comes from US firm, Blackstone.
It intends to create one of the largest artificial intelligence data centres in Europe, to store the data required to power AI and the information generated by AI systems.
The 4,000 jobs include 1,200 during the construction of the Northumberland site, which is expected to begin next year.
Blackstone has also agreed to invest £110m into a fund to support skills training and transport infrastructure in the area.
“The UK is a top investment market for Blackstone because of its powerful combination of talent and innovation along with a highly transparent legal system,” said Jon Gray, President and Chief Operating Officer of Blackstone.
“We are making significant commitments to building social housing, facilitating the energy transition, growing life sciences companies and developing critical infrastructure needed to fuel the digital economy. This includes a projected £10 billion investment to build one of Europe’s largest hyperscale data centres supporting 4,000 jobs. Blackstone is committed to Britain.”
Prime Minister Keir Starmer added:
“The number one mission of my government is to grow our economy, so that hard-working British people reap the benefits – and more foreign investment is a crucial part of that plan.
“New investment such as the one we’ve announced with Blackstone today is a huge vote of confidence in the UK and it proves that Britain is back as a major player on the global stage and we’re open for business.”
Back in 2022, plans were announced to build a major electric car battery plant in Blyth, creating 8000 jobs directly and indirectly. However, BritishVolt collapsed into administration in January last year, with no proposed viable buyers for the $4bn gigafactory.
