History
TEDCO was established in November 1984 as a not-for-profit company in the wake of telecommunications giant Plessey shutting down its South Shields plant earlier that year, with the loss of more than 600 jobs.
The five original subscriber members were:
- South Tyneside MBC
- Reyrolle
- South Tyneside Trades Union Council
- Plessey plc
- Business in the Community (Tyne and Wear)
The Company's Board of Directors is drawn from the original subscriber members and businesses with a local presence.
TEDCO was launched with the specific aim of nurturing new businesses and has grown from a small company into the £2 million turnover business development agency that it is today. Originally, it had one sole remit: to create long term job opportunities, initially in South Tyneside. In the short term, its objective was to undertake projects that would lead directly to the generation of at least 500 new jobs in 3 years.
Since TEDCO opened its doors in 1984 it has helped create more than 1000 new businesses and secure more than 2000 jobs, plus it has launched and now successfully runs three business centres in South Tyneside and one in Berwick upon Tweed. TEDCO also provides a Building up Business service in North Tyneside.
The organisation has come a long way from its original home in the former Plessey plant on Eldon Street in South Shields. In 1994 TEDCO moved its headquarters into a £2.8 million purpose built business centre at Jarrow’s Viking Business Park after a major fundraising effort.
Combining serviced industrial and office space the centre was an instant hit and plans were soon underway for a second centre in South Shields town centre. After a second round of fundraising the £3.8 million TEDCO Business Works opened in 2000 on the site of the former St Hilda’s colliery. With an emphasis on traditional office space, meeting rooms and a centralised reception, the new centre was again an immediate success with the business community.
By the time TEDCO Business Works opened its doors plans were already underway for a third centre that would focus on hi-tech and hi-growth businesses.
In May 2005 the striking Quadrus Centre welcomed its first tenants after opening at West Boldon overlooking the A19.
In November 2008, TEDCO were awarded the management contract for Berwick WorkSpace, a business incubation centre in the heart of Berwick upon Tweed. The doors of the flagship business centre, a joint project between Northumberland County Council and Berwick upon Tweed Borough Council, opened in April 2008.
As well as offering quality workspace for businesses the centres give TEDCO a platform to increase business start-up and support activity and to launch a number of groundbreaking community initiatives through its Enterprise in Education programmes, to foster an entrepreneurial spirit at grassroots level and from an early age.
TEDCO is also extremely successful in its work with students through its partnership with Newcastle University’s Enterprise Centre to help graduates start up businesses.
TEDCO Timeline
January 1984
Plessey announce they are to close their plant in South Shields with the loss of more than 600 jobs.
Summer 1984
Final attempts to save the Plessey plant fail.
August 1984
Announcement of new public/private partnership called TEDCO (The Tyneside Economic Development Company Ltd) tasked with job creation and stimulating enterprise within South Tyneside.
November 1984
TEDCO moves into the former Plessey building on Eldon Street in South Shields where open plan workspace was available to people wanting to start or grow their own businesses.
February 1986
His Royal Highness The Prince of Wales officially opens TEDCO Business Enterprise Centre.
February 1993
A £1.1 million grant from central Government and Tyne and Wear Development Company means work can begin on South Tyneside Council’s planned new business centre at Jarrow.
October 1993
Jarrow MP Don Dixon unveils commemorative plaque to mark the construction of the first TEDCO business centre in Jarrow.
September 1994
South Tyneside Council leader Albert Elliott received the keys to the new TEDCO Business Centre from AMEC building in an official ceremony.
February 1995
Dr Terry Harrison, Chief Executive of Rolls Royce plc, officially opens TEDCO Business Centre.
June 2000
TEDCO’s third centre, TEDCO Business Works, opens in South Shields, offering a mix of light assembly and office space.
December 2004
TEDCO takes over the management of the Building up Business service in North Tyneside.
May 2005
The Quadrus Centre in Boldon is completed, designed specifically for service businesses with ambitions to grow.
November 2007
TEDCO were awarded the management of Berwick WorkSpace, a flagship business incubation centre in the heart of Berwick upon Tweed.
April 2008
The doors to the £3.75 million Berwick WorkSpace business incubation centre, hosting 35 individual offices with conference facilities, opened in April 2008.
