Between 2009-2011, the Newcastle Gateshead City Development Company was founded as a regeneration and investment organisation to encourage investment specific Newcastle and Gateshead city areas. It received a funding of £500,000 a year from each of its three partners (Newcastle City Council, Gateshead Council, and the One North East regional development agency).

In July 2010 announced that Farrells were the preferred tenderer for the ‘Developing Newcastle Gateshead’ contract to oversee the development of the Newcastle-Gateshead 1Plan – an economic and spatial strategy for Newcastle-Gateshead. Among the capital projects proposed by the plan were: (1) The creation of the North-east’s first International Conference and Exhibition Centre as part of the regeneration of Gateshead Quays, with a mix of uses including homes, offices, leisure and retail; (2) The next phase of development in the Ouseburn cultural quarter, including between 60 and 80 new homes in partnership with the Homes and Communities Agency using £4 million Public Land Initiative funding; (3) The acceleration of the development of Science Central (creation of 40,000 square metres of office and teaching space pre-let by Newcastle University Business School, along with a £30 million student village), a project already underway by Downing Developments.

In September 2011, following cuts to council budgets, and the abolishment by central government of One North East, Newcastle and Gateshead councils announced this scheme would be replaced by a "business development commission" which would work with the marketing agency Newcastle-Gateshead.