The government last month announced plans to create zones across England where businesses will benefit from tax breaks and relaxed planning regulations.
The North of Tyne Combined Authority (NTCA) has been named among the bodies keen to take part in the scheme and has now revealed two extensive offers.
One of the proposed low-tax zones would run the full length of the Northumberland railway line, which is due to reopen to passenger services next year.
Council leaders recently announced their hopes of launching a £130m regeneration of towns served by the road, which will run between Ashington and Newcastle Central station.
The second investment zone proposal concerns an “Energy Innovation Arc” focused on job creation in the renewable energy industry.
NTCA officials have confirmed that this area will be made up of a series of separate sites across the region – including Royal Quays in North Shields and industrial sites along the banks of the Tyne, the business park of the Newcastle International Airport, Blyth Energy Central and Lynefield Park in Lynemouth.
North of Tyne Mayor Jamie Driscoll warned last month that the investment zone plan could simply shift jobs from one area to another.
But he said on Tuesday: “We have worked hard to create a greener, fairer and more prosperous region. And we are getting there.
“We have made it clear to the government that investment zones must support our work. This is why our proposal builds on our existing plans. Plans to help businesses grow, attract investment and access land for new homes and commercial use. We want to take full advantage of sustainable transportation systems and our growing green industries. »
The NTCA claimed that the low-tax areas would create “23,000 additional employment opportunities in the area and 8,000 new homes”.
James Young, director of strategy and compliance at JDR Cable Systems, said the tax breaks would allow the company to boost investment at its Northumberland Energy Park and East Sleekburn sites.
He said: “Existing developments and future phases would offer the potential for new product ranges and more generation capacity to help the UK secure its energy supply from low carbon energy sources in decades to come.”