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Full jar of toffees

Monday 28 January 2013 6:00

The business hub formed in the £6m redevelopment of the former Maynards Toffee Factory on Tyneside has now reached 100% occupancy, its operator has announced.

The Toffee Factory, located at the mouth of the Ouseburn Valley, opened in December 2011 and is now home to 22 businesses with a collective workforce of 130 people.

During the extensive refurbishment of the Toffee Factory it was estimated that the building would not reach full occupancy until mid 2014 but it has proved a major draw for growing digital and creative businesses in the months since its completion.

Toby Hyam, MD of Creative Space Management, which manages the Toffee Factory, said: “The creative business community in Newcastle and the wider city region is thriving and we think that there is further potential for growth. Toffee Factory has been a team effort with many key stakeholders contributing to its success.

“But it is the businesses that must take the credit for investing in growth and taking on new staff in a very challenging economic context. We should be very proud of local entrepreneurs who have taken the risks to expand their activities and support the region.”

Toffee Factory is owned by Newcastle City Council and was redeveloped with support from European Regional Development Fund, Single Programme through One North East and Newcastle City Council.

Nick Forbes, Newcastle City Council leader said the 100% occupancy of the business hub “demonstrates the vibrancy of the creative industries in the city and our reputation for developing and attracting businesses which can grow the region’s economy, bringing jobs and prosperity”.

Hot desks, virtual offices and meeting rooms are still available at the centre.