SUCCESS in Europe has helped hand the North-East economy a £1bn boost -and more money could be on the way.

Figures released yesterday by the Government Office for the North-East showed a record level of investment is being given to the region in European grants.

Officials said that in the past year, £121m had been spent on job-creation and community projects from the European Commission's Objective 2 Programme.

With match-funding, the amount spent in the North-East has more than doubled.

A further £20m from the European Regional Development Fund is expected to be given to the region next month because of its ability to successfully set up projects with European money.

David Slater, business group director with the Government Office for the North-East, said the six-year programme meant a £1bn boost for the North-East economy.

The funding programme has helped 6,000 small firms, developed 5,000sq metres of business premises and helped 270 community groups in some of the North-East's most disadvantaged areas.

Some of its biggest achievements include the regeneration of Newcastle and Gateshead quays.

About £4m was also awarded to Stockton's North Bank site, where work is under way on a redvelopment, which has attracted £100m of private investment.

* Groups wanting help to apply for European funding are asked to call 0191-202 3897.