the north east |


TEES VALLEY COMBINED AUTHORITY ENJOYS A SUCCESSFUL FIRST YEAR T


ees Valley is made up of five major towns, Darlington, Hartlepool,


Middlesbrough, Redcar and Cleveland and Stockton-on-Tees. Each area shares the same commitment to develop and build the local economy through Tees Valley Combined Authority. The region has seen plenty of positive


developments in the last year, as we continue to enjoy significant successes across our manufacturing, engineering and logistics sectors, as well as new and emerging sectors such as renewable energy and the composites industries. The area has already seen significant


investment over the last year alone, with 60 companies investing more than £300 million, creating around 600 jobs. Completed business investment in the last three years has exceeded over £1bn and there is much more underway. Major projects which have recently


commenced their civil engineering works include MGT Power in Redcar, who are constructing a £650m renewable energy plant, as well as announcements by Sirius Minerals and Australian firm Peak Resources to establish mineral processing plants in the region. These three investments alone represent well over £1 billion of new investment, clearly demonstrating the confidence companies have in Tees Valley and a clear indication of our global reputation for successful manufacturing. Large companies like these are


attracted to the area due to its existing infrastructure and available property. Thanks to major regeneration and development programmes across all parts of Tees Valley, there is an extensive choice


Fusion Hive - Stockton Riverside


of sites and premises available that are ideal for setting up new businesses. The sites include both new and established business and enterprise parks, plus large cleared industrial sites with access to utilities, port services and logistics. Tees Valley has 12 Enterprise Zone sites


with a total of 423 hectares available for new business investment that offer financial incentives to companies choosing to locate here, as well as simplified planning and super-fast broadband. Four of the enterprise zone sites offer


Enhanced Capital Allowances of up to £100 million. A further eight sites have Business Rate Relief of up to £275,000 over five years and are perfect for all levels of the supply chain


Hartlepool Port Estates


most ambitious in the country”. Powerful words from the president of an organisation representing 190,000 businesses right across the UK Tees Valley Combined Authority, and


the Local Enterprise Partnership, helps new businesses looking to invest in the region. The dedicated Business Investment team give advice and support to new or relocating businesses to make sure they find the right location, provide information on the workforce, training and skills available in the area and help access support services. This support makes investing in Tees Valley easier than ever, and underlines what a great place Tees Valley is to live and work in.


The Local Enterprise Partnership for


Tees Valley work with private sector partners to help businesses looking to invest in the area and Tees Valley has been described by the President of the Confederation of British Industry (CBI) Paul Drechsler as “a fantastic example of public- private partnership - the strongest and


National Biologics Manufacturing Centre COMMERCIAL PROPERTY MONTHLY 2017 71


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