FIGURES released today show the North East Enterprise zone is creating more than 1,000 jobs and attracting new companies to the region.

The zone, across sites in Tyne & Wear and Northumberland, is playing a vital role in driving forward the economy, creating hundreds jobs and creating a centre of excellence for the automotive, offshore energy and low carbon sectors, said Communities Secretary Eric Pickles.

Peter Fraser, director at Fraser Hydraulic Power (FHP), said expanding the company onto the Neptune Energy Park, has given the firm the capacity to win new business.

“As well as the much-improved manufacturing facility, the site also provides access to a deep water quay,” said Mr Fraser. “Large equipment can be delivered or mobilised directly onto our client’s vessels without needing to use public roads.

The company forecast that the move will create six jobs in 2014, followed by a further ten in 2015.

The Government’s 24 enterprise zones have created 12,530 jobs, attracted 434 new businesses and generated over £2bn worth of private investment since opening for business.

Labour has criticised the Government for failing to support the zones with significant funding.

The Coalition opened 24 enterprise zones in April 2012 as part of a 25-year project to rebalance the economy, offering tax incentives, simplified planning and superfast broadband. The Tees Valley zone is scattered across 12 locations in Tees Valley and aims to create and support up to 1,200 jobs by 2015.