Teesside shortlisted to become Investment Zone
Jeremy Hunt will announce further details in his Spring Budget.
Teesside has been shortlisted for one of 12 Investment Zones as part of the Chancellor's Spring budget.
Jeremy Hunt is set to announce plans tomorrow (Wed 14th March).
• The Chancellor set to announce 12 Investment Zones to drive business investment and level up, each backed with £80 million.
• Investment for roll out of Levelling up Partnerships, helping to regenerate places across England.
Ben Houchen, Mayor of Tees Valley, said:
“The introduction of an Investment Zone in the Tees Valley would be a huge boost to our plans to level up and redevelop our town centres. We have just established two Mayoral Development Corporations which will give us the powers to bring about real change to our town centres. The addition of an Investment Zone would help turbo-charge these plans and accelerate our vison.
"Investment and jobs are the fundamentals of levelling up and this would represent a further delivery on the promise the Government made to rebalance the economy of this country. We have been working for some time on Investment Zones, and I am incredibly supportive of this proposal.”