A major project set to transform the region into a thriving centre for new technology businesses is up and running.

NetPark, the North-East Technology Park project, will provide a unique environment for the nurturing and growth of technology, research and knowledge-based products and services.

Central to the regional economic strategy is the goal of building a diversified, know-ledge-driven economy.

The NetPark project acknowledges that this is the future of business in the North-East. Developed by Durham County Council and Sedgefield Borough Council, in partnership with Durham University, the National Health Service and development agency One NorthEast, the project will help the region's businesses to thrive and compete in the global marketplace.

The Interprise 2001 event at County Hall, Durham City, earlier this year, was the official launch pad for the project.

Peter Carr, CBE, co-chairman of the NetPark Steering Group, did the honours.

The park will be situated adjacent to the town of Sedgefield, on the site of the former Winterton Hospital, in the heart of County Durham.

It will set new standards in combining a high-quality, mature parkland environment with close proximity to, and working links with, the region's five universities, including Durham and Teesside.

The University of Durham, world-renowned for its scientific and technological research strengths, will play a key role in establishing NetPark's position as a breeding ground for technological experience.

Mr Carr said: "NetPark is to be developed as a regional technology park for knowledge-based industries, satellite research and development facilities for major international organisations and incubator/ start-ups for regional university graduates. The rapid pace of change in a competitive business world demands investment in the research and development of advanced science-based technologies."

He said: "NetPark will create an atmosphere that allows business to develop innovation and excellence, both through the skills of their own teams and in collaboration with the experts based in the region's existing companies, universities and colleges."

The NetPark development partnership can call on a number of Government and independent agencies to support and assist incoming and developing businesses.

The development is an imaginative, forward-looking flagship project that will help create new industries and act as a magnet for investment into the region and new technologies.

Further information about the NetPark project can be obtained from the County Durham Development Company on 0191-383 2000 or email NetPark enquiries@sedgefield.onyxnet.co.uk