Northeast England was once a heavy industry powerhouse. But when those industries declined, the region struggled to come up with its next growth industry.
So when Siemens Semiconductor pledged in 1995 to invest over a billion pounds for a semiconductor fab, the area was overjoyed. The Queen showed up and everything. But the plant never had a chance. Siemens closed it after just 15 months of operation. An aborted attempt to revive the plant fell through.
What happened here? In this video, we are going to look at semiconductor manufacturing's failure in North Tyneside.
Errata:
- Another currency mishap - GBP and USD are inverted in the early video parts
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