A GOVERNMENT Minister has visited the Tees Valley to sign a £190m package of investment.
Up to 1,000 jobs and 1,500 new homes could be created under the Tees Valley Growth deal which is part of a £12 billion government programme to revitalise local economies.
It was signed by Local Growth Minister Penny Mordaunt today who said: “This package is part of our long-term economic plan to boost businesses in the North and provide more security for hard-working families.
“This deal will deliver real benefits to local firms and is great news for the Tees Valley. I am delighted to be able to put pen to paper and make it happen.”
Stephen Catchpole, managing director of Tees Valley Unlimited, the Local Enterprise Partnership for Tees Valley, said: “The signing of the Tees Valley Growth Deal is important for the area as it will support the creation of hundreds of new jobs, provide state of the art research and innovation centres as well as training opportunities for young people, who are our economic future, enable the building of new homes and improve transport links across Tees Valley all of which will help benefit businesses and residents.
“The Growth Deal further empowers our local authority and private sector partners to work together to identify economic priorities and to develop investment strategies and projects at a local level.”
The programme includes;
l a £12.8m transport package that will improve road access to several key business locations, including Tees Valley Airport;
l £5.8m for the Tees Valley Business Growth Hub that will ensure companies are able to expand by getting the right type of common-sense, practical support they need; and
l £3m to provide vital services for the offshore wind, oil and gas and sub-sea sectors.
The official signing ceremony was held at the TVU’s offices in Stockton.