Six hundred jobs will be created as a care home company more than doubles in size across the region.
Gainford Care Homes, named as one of the fastest growing companies in the region last year, already has eight residential nursing and care homes in the region, with a further two being opened in Hartlepool and Seaham before the end of the year.
The firm, which was founded by entrepreneur Mohammed Khaliq in 1995, works in partnership with Allied Irish Bank (GB) and is set to expand to include 20 care homes by 2010.
It employs more than 400 people, with a further 65 staff being taken on in Hartlepool and about 70 in Seaham.
Company finance director Glenn Martin said that by the time all 20 homes were up and running the workforce should top 1,000. There will be a wide range of jobs in each home, from managers and carers to nurses and kitchen staff.
He said: "We are always looking for new sites on which to develop right across the North-East.
"The way the industry is going, we expect the demand for new, state-of-the-art care homes to remain high."
Gainford Care Homes, which has its headquarters and homes in Chester-le-Street, as well as sites in Birtley and Low Fell, was named as one of the top 15 fastest-growing North-East companies in 2004.
Mr Martin said: "Our business success has been based on offering the best possible care in high-quality facilities and we expect this model to help us achieve our goal of doubling our capacity over the next five to six years. Our long-term relationship with Allied Irish Bank (GB) has been crucial to the company's development, ever since they funded the construction of our initial Chester-le-Street property a decade ago."
Rowan Duggan, the bank's senior business manager based in Newcastle, said: "Gainford aims to become one of the region's biggest players in the care and residential home market and its highly professional management approach means it is already well on the way to achieving this objective.
"It's very pleasing for us to have played a part in a real North-East success story and we're confident that Gainford will fulfil their ambitious growth plans over the next five years, and beyond.
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