DURHAM County Council is to focus its business aid on cutting-edge industries.
The council's cabinet has approved a shake-up of the grants it offers to help inward investment, expansion and job creation.
Following a report by consultants Price Waterhouse-Coopers it will concentrate on knowledge and technology-based industries, such as research and development, advanced manufacturing, ICT and software.
It is hoped that the change will help attract new businesses and diversify the county's economy.
The aid, which is due to start in the autumn, will include a strategic investment grant to promote the "knowledge economy" that will give 50 per cent of eligible costs up to a ceiling of £50,000 to firms of any size.
There will be a technology grant for small and medium-sized businesses and a business development grant.
Councillor Ken Manton, council leader, said: "Our willingness to drive forward cutting edge business initiatives, like Bracken Hill Business Park, in Peterlee, and the NetPark Science Park development, in Sedgefield, has made the county fertile ground for investment, particularly in knowledge-based business sectors."
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