Member Article

Tees Valley: £15m funding package puts devolution plans in motion

Northern Powerhouse Minister Andrew Percy has announced the transfer of £15m of government money into Tees Valley, the first part of the region’s devolution payment.

The Tees Valley Combined Authority will now bring forward proposals to invest the money to deliver key parts of its Strategic Economic Plan, designed to improve the fortunes of the region.

The plan includes proposals to improve a range of aspects of Tees Valley life, from plugging skills gaps and employment training, to supporting growth sectors, transport and connectivity.

How the money will be spent will be determined by the public. Teessiders will go to the polls in May to directly elect the wider region’s first-ever Mayor and Mr Percy said now was the time to get the Northern Powerhouse ‘firing on all cylinders’.

Mr Percy said: “The people of the Tees Valley came up with an ambitious devolution deal which puts them back in charge of decisions that matter to them.

“Now today’s £15m government investment into the Northern Powerhouse is proof that we will equip them with what they need to get the North firing on all cylinders and build an economy that works for everyone.

“And with powers over transport, training and regeneration all coming back into Teessiders’ hands, local people will also now have the chance to head to the polls and vote for a powerful new Mayor to put them into practice.”

Mayor David Budd, Chair of Tees Valley Combined Authority, added: “The Tees Valley has ambitious plans to create jobs and grow the local economy. Devolution gives us the opportunity to deliver locally-led initiatives to transform our economy – far more effectively than decisions made behind a desk in Whitehall.

“This additional funding negotiated through our devolution deal, as the first payment of a 30 year commitment, is one more step on this journey.

“We will invest it in local priorities which give people the skills they need, and the jobs our region needs for a successful future. We will continue our dialogue with government to secure further commitments, and to become a flagship for successful devolution.”

Click here to read how business leaders from across the Tees Valley have reacted to the news.

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