£14m Extra Cash for Tees Valley
The government's putting almost £14m extra cash in to transport, skills development and business in the Tees Valley. It's hoped it'll help create up to 5000 new jobs for people in the region.
It's hoped an extra £14m of government cash will help create up to 5000 new jobs here in the North East.
The Tees Valley Local Enterprise Partnership has agreed an expansion to its Growth Deal with the Government which will see an extra £13.9m invested in Tees Valley between 2016 and 2021. This is in addition to the £90.3m of funding already committed to the area.
It's thought up to 5000 new jobs could be created and up to £130m of public and private investment attracted here.
The Tees Valley Growth Deal is part of efforts to devolve at least £12 billion from central government to local economies.
This expanded deal will add to the projects already prioritised including road schemes in Stockton and Middlesbrough, innovation schemes in Darlington and Middlesbrough, skills projects in Hartlepool and Redcar and Cleveland and business support activity across Tees Valley.
A number of projects are planned here, including help to create business accommodation space at key sites in Redcar, Middlesbrough, Hartlepool and Darlington. Investment in road networks and other infrastructure is also planned in order to improve access to commercial investment sites in Middlesbrough, Billingham and Redcar. Money will also go towards the creation of a skills programme to support key growth sectors in advanced manufacturing, low carbon, oil and gas, digital and logistics.