THE TEES Valley has won its bid for a City Deal which could bring 3,500 jobs, experts have predicted.
Government chiefs today confirmed that the area had been rubber stamped for the status which means;
l 3,500 supply chain or indirect jobs;
l The safeguarding of 800 existing Tees Valley jobs;
l More than £10m of private sector investment in the industrial infrastructure and workforce.
l And new programmes covering everything from a low carbon future to business support, and skills development to an innovation programme
The status puts the Tees Valley alongside the likes of Leeds and Manchester when it is working with Government to help shape policy decisions affecting local areas.
After an 11-month battle, news that City Deal had been secured also meant £12m had been allocated directly as a result of it. It also means another £22m, which was announced previously through other programmes during the City Deal process, will also be available.
The Deal will build upon Tees Valley’s strength in the processing, energy and new materials sectors.
Sandy Anderson, chairman of the regeneration agency Tees Valley Unlimited, said: “This is really good news for Tees Valley, its businesses and its residents. It will place Tees Valley at the forefront of developing green technologies.”
TVU managing director Stephen Catchpole said: “Today’s City Deal announcement rounds off a year of achievement. City Deal status will bring substantial investment to the area from various Government departments.
“It will lead to more pioneering and innovative schemes that will help drive the bold economic development ambitions of TVU, its partners and stakeholders.”