Member Article

TVU wants to create 25,000 jobs by 2025

Tees Valley Unlimited (TVU) says it wants to create 25,000 jobs by 2025 after publishing its annual report.

TVU, the Local Enterprise Partnership for Tees Valley, says it has supported more than £630 million of investment and 4,000 jobs since April 2011.

Now its partners and stakeholders are spearheading development plans and initiatives to help attract more companies to the area, to enable indigenous firms to grow and win more businesses and to improve the infrastructure of Tees Valley.

Another priority is ensuring that Tees Valley’s voice is heard by key influencers and decision-makers who control regulatory frameworks and policies affecting key sectors that impact on Tees Valley’s economic progress.

TVU chairman Sandy Anderson said: “With much valued support from our partners both public and private sector, our Annual Report reflects a year of strong performance.”

In its annual report published on Thursday, it says between April 2013 and March 2014, TVU says achievements include £22 million direct investment, £151 million supported investment and £53 million secured from Regional Growth Fund (RGF) Rounds 4 and 5 as well as creating 1,288 jobs.

Since its Partnership Business Plan was published in April 2011, TVU has also supported more than £630 million of investment and 4,000 jobs, secured £76 million to deliver strategic priorities and attracted 13 companies to the Enterprise Zone, creating 700 jobs.

Now the TVU has set an ambitious target of creating 25,000 jobs and £1 billion extra GVA by 2025.

TVU managing director Stephen Catchpole said: “Our latest annual report demonstrates that we are continuing to deliver on the commitments that we made to the area, its businesses and residents.

“Through collaboration and partnership, we are establishing an environment where businesses can grow, take on more staff, win contracts and expand and/or improve their offering of goods or services.

“This year has seen several innovations and milestones including the pioneering Tees Valley Jobs and Investment Scheme, which is helping create hundreds of jobs.

“We intend to build on the achievements outlined in our Annual Report during the coming years.”

The annual report will be available at the Tees Valley Business Summit on July 9 in the Olympia Building at Teesside University or alternatively via www.teesvalleyunlimited.gov.uk

This was posted in Bdaily's Members' News section by Martin Walker .