In August 2017 the South Tees Development Corporation was officially launched by Prime Minister Theresa May. The 4,500-acre development area represents an international-scale opportunity to attract investors and improve the economy in what is the single biggest development opportunity in the UK. Chaired by Tees Valley Mayor Ben Houchen, there is a 25-year plan to create 20,000 good-quality jobs.
The first Mayoral Development Corporation to be set up outside of Greater London
£123million of new money secured from Government to prepare the site for private investment
25-year vision to create 20,000 jobs and an additional £1billion a year into the local economy
More than 100 investor inquiries from global companies wanting to base themselves on site
A key part of the Government’s Industrial Strategy