Member Article

TVU endorse Regional Growth Fund bids

Tees Valley Unlimited (TVU) have endorsed a number of Regional Growth Fund(RGF) bids, which have the potential to boost the local economy and create thousands of jobs.

TVU have worked closely with businesses and public sector partners to prepare submissions, to the latest bidding process. In total 15 applications have been presented with a captal expenditure of over £602 million, and the potential to create or safeguard over 1,800 jobs.

A total of £68 million is required for the projects, which have the potential to lever in more than £535 million of private sector investment.

Stephen Catchpole, Managing Director of Tees Valley Unlimited, said: “The latest Tees Valley RGF bids are extremely wide ranging. They embrace schemes that will benefit large, medium and small-enterprises across a broad spectrum of sectors and also help young people wanting to take that important first step on the career ladder.

“The projects and programmes are imaginative, forward-thinking and have great potential to help deliver TVU’s economic ambitions of growing our industrial base, diversifying and expanding the local economy and laying foundations for long-term prosperity.”

Projects include four from process industry companies, three projects from companies involved in the low carbon energy industry, four from the advanced manufacturing and engineering sector, two projects from logistics companies, one supporting infrastructure development and another from the creative and leisure industry.

This was posted in Bdaily's Members' News section by Ruth Mitchell .