A £10 billion investment by US private equity firm Blackstone in a new artificial intelligence data centre in Blyth, Northumberland, will create 4,000 jobs, the Government has announced.
This project, set to be Europe's largest AI data centre, is part of a broader effort to boost the UK economy through foreign investment.
Around 1,200 jobs will be focused on construction, while Blackstone will also contribute £110 million to skills training and local infrastructure.
Prime Minister Sir Keir Starmer hailed the investment as a significant vote of confidence in the UK, reinforcing the country's position as a global player.
The deal was facilitated by the Government’s Office for Investment and follows the collapse of Britishvolt, which had previously planned to build electric car batteries on the site at the coastal village of Cambois, across the river from the town.
Blackstone President Jon Gray highlighted the UK's strong talent and innovation as key factors in their decision, stating that the investment demonstrates Blackstone’s long-term commitment to Britain’s economic growth and digital infrastructure.