£23 million has been allocated by government today, to ensure that Teesside and Cleveland can continue to grow. Tees Valley Unlimited, our areas local enterprise partnership, has been given the extra cash for 2015/16 to ensure that councils and businesses funnel it into projects which will get the maximum benefit for those living and working in our area.
In total over £6 billion of projects will be supported by the Growth Fund across England in 2015/16, with funding being used to deliver better roads and public transport; increase the support for small businesses and young people looking for work; and improve internet links, skills and housing availability, strengthening the local economy and backing businesses to create jobs.
Will Goodhand commented:
‘This Growth Deal is excellent news for local people on Teesside and in East Cleveland. £23 million for Tees Valley Unlimited will make a huge difference in our area. And because it’s going straight to the LEP, local businesses and local authorities have been able to make sure local people get the biggest possible benefit, with much-needed investment for things like business regeneration on the Wilton Site.
‘This will help local businesses create the jobs we need so more hardworking families can have the security of a regular pay packet, and will help ensure our young people have the skills they need to compete in the global race. This is a key part of our long-term economic plan, and will help secure a better and brighter future for people in our area’
Greg Clark, Minister for Cities who grew up on Teesside, said:
‘This is a landmark day for local economies across Britain. National growth is the sum of local growth, so for Britain to prosper every part of the country needs to fulfil its potential. But no two places are the same and the people who live, work and do business in each place know best what their area needs to do well. That’s why we’re backing local leaders in Middlesbrough & East Cleveland to create jobs and prosperity in their own area’