10/02/12

LEP takes Tees Valley to influential City audience

 

 

Tees Valley Unlimited’s bold and ambitious drive to invigorate Tees Valley’s economy has reached new levels with two major events in London to promote the area’s business potential

Tees Valley Unlimited, one of the first Local Enterprise Partnerships to be recognised by the Government, hosted London briefings to inform prospective investors and politicians about the opportunities and challenges surrounding its mission to accelerate economic renaissance in Tees Valley.

TVU’s work across Darlington, Hartlepool, Middlesbrough, Redcar and Cleveland and Stockton, has now been underway for a year and during that time it has achieved some notable successes.

Stephen Catchpole, TVU Managing Director, said:

“A new economy is taking shape in Tees Valley and it is vital to the rebalancing of the UK economy that it succeeds. As such, it is important that we engage with potential investors, key stakeholders and those at the heart of Government to appraise them of our progress and what future opportunities are emerging within the Tees Valley area.”

TVU has helped lever in £68.3m for 20 projects from the first two rounds of the Regional Growth Fund (RGF). This will attract more than £400m of private sector investment, generate growth and export opportunities and create and safeguard more than 5,000 jobs across the area. 

Its successful bid for Enterprise Zone status involved an innovative strategy encompassing 12 individual sites across the five Tees Valley boroughs offering financial incentives to help attract real investment and growth and deliver significant job opportunities. The package has the capacity to stimulate the creation of 1,250 new business and tens of thousands of new jobs.

TVU also is involved in projects to develop a new start-up business culture and nurture businesses in the digital sector.

Other notable achievements for TVU and its partners include securing status as a Centre for Offshore Renewable Engineering (CORE), facilitating a Business Angel Network, initiating partnerships with UK Trade and Investment and the Environment Agency and attracting over £21 million of public sector funding for Tees Valley projects.

2012 will see the implementation of the Tees Valley Enterprise Zone, engagement with local businesses about Regional Growth Fund Rounds 3 and 4, the development of sector action plans and work to secure superfast broadband throughout Tees Valley

Mr Catchpole said:

“It is imperative that as wide an audience as possible is made aware of the business opportunities that are emerging in the area. These events gave TVU and its partners the opportunity to meet prospective inward investors and politicians face to face and present an economic overview of Tees Valley and its business potential.”

TVU held two briefings. One for potential investors and directors of leading property, development and finance companies and a second, the same day, at the Palace of Westminster which was attended by Ministers, MPs and Peers.  

For more information contact Joanne Coan
01642 632 013 // 07775 227516 // joanne.coan@teesvalleyunlimited.gov.uk


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