Blackstone confirms £10bn Blyth investment – Starmer

UK Prime Minister Keir Starmer said US investment giant Blackstone has confirmed a £10 billion investment at Blyth in the North East of England to create one of the largest artificial intelligence data centres in Europe.

Starmer said the move will create 4,000 jobs for British people and benefit the local community in Blyth.

“The deal with US investment company Blackstone, facilitated by the Office for Investment, will create the biggest AI data centre in Europe, boosting the UK’s world leading capabilities in the AI sector and driving growth in the local community,” said the UK government.

“Over 4,000 jobs will be created as a result, including 1,200 roles dedicated to the construction of the site in Blyth, Northumberland.

“Construction on the site is expected to begin next year, with the data centres set to store the vast amount of data needed to power AI, and to store the information generated by AI systems.

“The Prime Minister’s number one mission for government is economic growth, and foreign investment will be a key part of driving it – by creating jobs which will put money into the pockets of hard-working British people.

“The local community in Blyth – which suffered as a result of the failure of BritishVolt – will also directly benefit from the investment, with Blackstone confirming it will invest £110 million into a fund – supporting further skills training and transport infrastructure in the area.

“The UK is already home to the highest number of data centres in Western Europe and just last month, the government classed data centres as ‘Critical National Infrastructure’ in the first designation in almost a decade to provide greater reassurance to businesses that the UK is a secure place to invest in and develop data centres.”

Starmer said: “The number one mission of my government is to grow our economy, so that hard-working British people reap the benefits – and more foreign investment is a crucial part of that plan.

“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.”

Jon Gray, President and Chief Operating Officer of Blackstone, said: “The UK is a top investment market for Blackstone because of its powerful combination of talent and innovation along with a highly transparent legal system.

“We are making significant commitments to building social housing, facilitating the energy transition, growing life sciences companies and developing critical infrastructure needed to fuel the digital economy.

“This includes a projected £10 billion investment to build one of Europe’s largest hyperscale data centres supporting 4,000 jobs. Blackstone is committed to Britain.”