More than 10,000 new jobs are being promised with the development of a massive business park on Tyneside.
The Newcastle Great Park (NGP) project already has its first tenant, with software giant Sage building its £60m headquarters on the site.
The NGP project is one the largest developments of its kind in the UK.
It is being created in three phases over the next 15 years to include more 2,500 properties, as well as a wide range of commercial, retail, leisure, education and community facilities.
The project will see 85,000 square metres of business space created close to the A1, north of Newcastle.
Developers, who include Taylor Woodrow, Persimmon and Newcastle City Council, reckon more than 40% of all new jobs in Newcastle over the next 10 years will be located at the park.
'Business environment'
NGP project director, John Holmes, said the park will be instrumental in the continuing regeneration of the north-east of England.
"We are very excited by the proposals, as this has to be one of the best economic development opportunities that the North East has known for decades.
"We will be delivering totally flexible accommodation in order to attract small and medium enterprises, right through to major corporate names.
"The business park will provide a high-quality business environment, set in beautiful parkland, right next to the A1, with easy access to the city centre.
"Signing up Sage to locate their headquarters on NGP was a major coup for the developers and Newcastle City Council. It is one of the biggest private sector investments in the country and has made a very significant architectural statement on NGP."