Prime Minister Keir Starmer has announced a £10bn investment deal with US investment company Blackstone, set to create over 4,000 jobs in the North East. The project will establish Europe’s largest AI data centre in Blyth, Northumberland, enhancing the UK's position as a leader in the artificial intelligence sector.
The investment, facilitated by the Office for Investment, will generate 1,200 construction roles and support a total of 4,000 jobs. Construction is expected to begin next year, with the data centre set to handle the extensive data needs of AI systems.
Prime Minister Starmer highlighted the importance of foreign investment, stating: "New investment such as the one we’ve announced with Blackstone today is a huge vote of confidence in the UK and it proves that Britain is back as a major player on the global stage and we’re open for business."
Community Impact and Future Development
Blyth, a town affected by the collapse of BritishVolt’s electric battery gigafactory project, will see a significant boost from Blackstone’s investment. The company has committed £110m to a fund that will support skills training and transport infrastructure improvements in the area.
Jon Gray, President of Blackstone, emphasised the UK’s appeal as an investment destination, praising its "talent and innovation" and the country’s legal system. He added, "Blackstone is committed to Britain," and noted that the project will be a cornerstone of the digital economy.
The announcement comes ahead of the UK’s International Investment Summit, which will gather leading global CEOs in October.
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