THE North-East will play host to the UK's foremost job and wealth creation summit - the first time in its history that it has left the south.

Delegates from as far afield as the US will attend the annual meeting of the influential Cambridge MIT Institute (CMI).

The creation of the five centres of excellence by regional development agency One NorthEast was the hook used to persuade CMI to hold the summit in Newcastle.

Dr John Bridge, chairman of One NorthEast, said: "This is excellent news for the region, providing us with a world-renowned platform to demonstrate the North-East's pioneering approach to wealth creation."

CMI represents an alliance between Cambridge University and the Massachusetts Institute of Technology, an academic organisation credited with creating a raft of global companies.

The summit, to be held at Newcastle Civic Centre on November 11 and 12, will be attended by up to 250 delegates, including 120 invited decision makers from the region.

Professor Michael Kelly, executive director of CMI, said: "The regional development agenda lies at the heart of the UK Government's policy to develop an enterprising, science-based economy.

"It is very appropriate that CMI is holding the first of its regionally-based national competitiveness summits in the North-East, which has been particularly innovative in the establishment of its Science and Industry Council and its centres of excellence - examples of pioneering and creative approaches to fostering scientific entrepreneurship."