Member Article

Report shows Tees Valley Unlimited is delivering

Tees Valley Unlimited has helped attract £500m of private sector investment and created or safeguarded 3,000 jobs in the area, according to its latest annual report, which is unveiled today (July 2).

TVU, the Local Enterprise Partnership for Tees Valley, is intent on driving development plans forward, attracting more companies to the area, enabling home-grown firms to expand, exploring ways of encouraging much-needed house construction and helping improve the infrastructure of Tees Valley.

Another priority is ensuring that Tees Valley’s voice is heard by decision-makers with the aim of influencing regulations and policies affecting key sectors that impact on Tees Valley’s economic progress.

Since Tees Valley Unlimited’s Partnership Business Plan was published in April 2011 it has:

• Attracted almost £500m of private sector investment by bringing new companies to the area and helping existing companies grow

• Created and safeguarded almost 3,000 jobs in Tees Valley

• Successfully bid for more than £57m to improve infrastructure including developing local railway facilities, reducing road congestion, helping young people into work and setting up the Tees Valley Catalyst Fund

• Welcomed eight companies onto the Tees Valley Enterprise Zone

• Secured a further £42m of Regional Growth Fund, which once taken up, has the potential to support another 5,000 local jobs

• Helped partners access and manage £11m of European Funding to support business, innovation, growth and enterprise.

Stephen Catchpole, TVU managing director, said: “Since the Partnership Business Plan was launched we have made significant progress in delivering the promises and commitments we made to Tees Valley businesses and residents and this past 12 months has been no exception.

“We are very proud of what we have achieved and are confident that we can grow and develop the economic wellbeing of Tees Valley even further. “It is the powerful combination of partnership working, world-class competitive companies and a focus on first rate skills that have contributed to what has been accomplished.”

Delivery of the TVU Business Plan is helping to create an environment for growth and the annual report highlights the steps TVU has been taking and will continue to take to embrace the opportunities and tackle any challenges needed to realise its goals.

TVU’s ambitions for the area by 2015 include:

• Increasing Gross Added Value (GVA) by £351 per head • Help 7,670 more people into employment

• Create an additional 1,260 enterprises

• Increase the number of people with a NVQ4 or above TVU’s annual report also reveals that the area contributes £10bn a year to the national economy.

Councillor Bill Dixon Leader of Darlington Borough Council and Deputy Chair of TVU said: “The report demonstrates the valuable work carried out by Tees Valley Unlimited and the power of partnership working.

“By working with and through TVU, Darlington has helped to secure 400 public sector jobs moving into the town centre; secured money which allowed housing to be started at Central Park; taken huge steps forward in the creation of a business hub to support new businesses and helped secure funding for public transport improvements.

“These are real and concrete projects that will have a positive impact for our residents and for business growth in Darlington.

“We look forward to working with TVU to face the challenges and the opportunities presented in the coming year.”

Councillor Christopher Akers-Belcher, Leader of Hartlepool Borough Council, said: “We work very closely with the other Tees Valley councils and TVU to improve the economic prosperity of the local area and this report is testament to the many achievements we have made recently.

“However, we need further investment and support from the Government to stimulate growth in the economy and create jobs and this is something we will continue to campaign for.”

Councillor Mark Hannon, Cabinet Member for Economic Development at Redcar and Cleveland Council said: “This is great news for Tees Valley and is a testament to the hard work that goes in to driving plans forward and encouraging much needed regeneration. The Tees Valley has achieved a great deal, which is astonishing during these difficult economic times and it is important that we rise to the challenges ahead and continue to grow.”

Councillor Bob Cook, Leader of Stockton Borough Council, said: “Stockton is proud to be part of Tees Valley Unlimited which is a successful public and private sector partnership securing growth and prosperity for the Tees Valley.

“The TVU Annual Report provides testimony to this success outlining how, by working together, the area is attracting new companies, driving growth, creating and safeguarding jobs, improving the area’s infrastructure for business – such as investment in roads and business accommodation – as well as working with employers to improve local skills.”

The annual report will be available from the Tees Valley Business Summit taking place on 4 July in the Olympia Building at Teesside University or alternatively via www.teesvalleyunlimited.gov.uk

This was posted in Bdaily's Members' News section by Tees Valley Unlimited .