 As a list of the fastest-growing companies in the North-East, the Fastest 50 reflects the current state of the region's economy. And a glance at this year's run-down illustrates the extent to which the North-East's business community has seen significant structural change over the last 20 years. From low value manufacturing, shipbuilding and mining, we have seen a transformation to high value process industries, professional services and new technology businesses. The North-East has never been afraid to embrace change - after all, we were at the forefront of the first industrial revolution - but it has also managed to retain core values such as hard work, a willingness to cooperate and pride in the region and its achievements. And it is the ability to use these values to adapt to a rapidly changing world which has been the key to the North-East's economic revival. Manufacturing remains a real strength in the region but manufacturers have risen to the challenges posed by globalisation by adopting new techniques and processes to become leaner, faster entities focused on high value or niche products. The fact that the North-East remains one of the only regions in the UK to export more goods and services than it imports is a testament to the success of such an approach. Chemical giant ICI may have sold the remaining part of its once giant operation on Teesside this year, but the area's deep knowledge and expertise in the field have ensured that it remains at the forefront of the petrochemical industry. It is also becoming an international centre for new technologies such as environmentally-friendly biofuels and, in partnership with County Durham's NetPark, looking to be in the vanguard of the flexible electronics industry. The North-East's expertise in the offshore sector is helping win new business in the rapidly expanding subsea sector as oil and gas companies look ever further to find more natural resources. And there can surely be no greater example of the region's willingness to adapt to changing times than the fact that Tyneside yards which once built ships are now being adapted to help break them up. Newer areas of expertise are springing up alongside the traditional sectors - witness the continued success of Newcastle's Sage, still the UK's only FTSE-100 technology company, while the North-East's excellence in video game development is making waves on the global scene of what is a seriously big industry. Meanwhile, a burgeoning professional services sector is helping to oil the wheels of business in the region, as well as building a national and international reputation. The fact that all these companies are not only based in the North-East but have been growing quickly over a number of years shows the strength of the region's economy - and it is a strength which it will need for the years to come. For the UK is on the cusp of a third industrial revolution. By ensuring that a private sector, founded on high-value, high-skilled industry is seen as the route to success, there is no reason why the North-East cannot play a huge part in this. To grow the wealth of the region we need to increase the productivity of existing businesses and encourage new business growth. This can only be achieved through a strong business sector - a strength well represented in these pages and one which, with the support of all in the region, we can use to develop the conditions for sustainable growth. | 
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