Business facts

• Population of 2.6 million in 2006

• GVA per head stood at £14,048 in 2005 and is growing above the national average, exceeding the growth levels of both London and the South East

• North East England is one of only two UK net exporting regions with a positive balance of payments

• North East England is home to 588 overseas companies from 32 countries, employing over 27,000 people

• The region has five universities with over 50 RAE 5 or 5* rated departments and 18 further education colleges attracting almost 96,000 full and part-time students

• The region has the 3rd highest graduate retention rate in the UK at 59%

• Only London has a higher rate of technology start-ups than North East England

• Expenditure on R&D by the region’s businesses is rising year on year with the latest levels of spending reaching £281 million

• The region’s ‘Strategy for Success’ is stimulating ground-breaking developments in science and technology based on strengths in new and renewable energies, life sciences and process technologies

• Creative industries such as content-based businesses, which include computer games and video production, are now growing faster in North East England than in any other region of England. There are over 2,800 creative businesses operating in North East England, employing around 26,000 people

Want to find out more?

For further information on how to do business in the North East region visit the One NorthEast website.