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Tees Valley: A Flagship For The UK’s Industrial Strategy

Posted on November 27, 2017

The government has today set out its Industrial Strategy for the UK, reaffirming Tees Valley’s vital role at the heart of the UK’s plans for industrial growth.

The strategy highlights measures that will enhance the role of Tees Valley to make a step change in the local economy, ensuring that businesses and residents thrive and reach their full potential.

The Industrial Strategy sets out five pillars. The Tees Valley is already playing a vital role in the following areas;

 

  1. Ideas / innovation – Tees Valley is at the forefront of developing new approaches to Carbon Capture and storage, leading a grouping of multi-national companies known as the Teesside Collective and are specifically recognised within the strategy.

 

  1. People – The Combined Authority is currently consulting on a skills strategy to ensure the areas skills needs are aligned to the requirements of local business.

 

  1. Infrastructure – A number of bold proposals have been put forward to transform the local transport network and the Combined Authority have just received over £59 million to develop them.

 

  1. Places – The South Tees Development Corporation is highlighted in the strategy as a flagship initiative for local leadership of industrial regeneration, demonstrating the importance of the powers devolved to local mayors. Last week it received £123m to kick start the locally led development corporation and start to remediate the land ready for investment.

 

  1. Business – An extended commitment to the Growth Hubs is confirmed. Growth hubs join up national and local business support so it is easy for companies to find help and access it.  Known locally as the Tees Valley Business Compass Service it is playing an important role in the area.

 

Welcoming the white paper, Tees Valley Mayor Ben Houchen said: “I am proud that Tees Valley will once again be able to play a leading role and provide such an important contribution. We are very proud of our rich industrial heritage but we can also be very proud of our industrial future with our competitive private-sector led economy.

“Last week government made a massive commitment to our local Industrial Strategy with a £123million boost to help get things moving. This is a huge vote of confidence in our area and it is very encouraging to see the government’s strong commitment to devolution. The tide is turning and power is beginning to shift from Whitehall.”

The long term strategy sets out a vision for the UK to be the world’s most innovative nation by 2030.

 

Issued by Tees Valley Mayor.