Fusion Hive at Stockton’s Northstore is a state-of-the-art facility for new and growing digital and scientific companies.
The three-storey, 36,000 sq ft building offers flexible working spaces for around 60 small and medium-sized enterprises.
Managed by The Forge, Teesside University’s business hub, Fusion Hive also has innovative open spaces for collaborative working which, it is hoped, will help like-minded businesses to interact, network and work together.
Esh Build, part of the Esh Group, constructed Fusion Hive on land owned by the Homes and Communities Agency (HCA), which has invested nearly £3 million into the project. This HCA funding has been matched by a similar investment from the European Regional Development Fund (ERDF).
Fifteen companies – five of which are award winning, have already moved into Fusion Hive, which was officially opened in October by James Wharton, MP for Stockton South and Northern Powerhouse minister.
Among them are digital technology enterprise, skignz, industrial automation and information services firm, Applied Integration, and IAMTech Ltd which specialises in the development of innovative technology solutions for the oil, gas, chemical and power industries.
Most recently, Squegg, a branding consultancy, has moved into Fusion Hive.
The company’s owner and creative director, Ben Sanson, said: “The fact that that you’re sharing a building with other like-minded businesses and the links with Teesside University will really help us.
“We’re hoping to build up our team and the move to Fusion Hive should certainly assist with that and allow us to be more accessible to start-ups and SMEs in the region.”
Northshore is a mixed use regeneration scheme creating new offices, homes and leisure facilities within walking distance of the newly regenerated Stockton Town Centre.
The 56 acre, £300 million scheme is a partnership between Muse Developments, the Homes and Communities Agency and Stockton-on-Tees Borough Council, and will ultimately provide up to 500,000 sq ft of offices, up to 85,000 sq ft of retail, hotel and leisure space and 126 family houses.
As Northshore is an Enterprise Zone, many of the businesses which choose Fusion Hive as their base will also be able to take advantage of up to £55,000 of business rate discount per year for five years.
Speaking at the official opening of Fusion Hive, James Wharton MP said: “This will be a driver for growth and shows what can be delivered with collaboration across sectors.
“Through the companies involved, Teesside University, development fund backing and the local authority, a lot has gone into getting us to this stage and now Fusion Hive will contribute to our future growth and building the Northern Powerhouse.
“I am delighted it is in Stockton and confident it has many years of success ahead.”
Vice-Chancellor of Teesside University, Professor Paul Croney, added: “Teesside University has a fantastic track record for collaborating with business and Fusion Hive will increase the range of services we can offer to companies in the Tees Valley.
“It is already helping many of the region’s most exciting business to grow and fulfil their potential.”
North Shore Road, Stockton, TS18 2NB