Home » News » £60Million Funding For Major Transport And Innovation Projects Signed Off
Tees Valley Combined Authority | Published on: 31st January 2020
The Tees Valley Mayor and Combined Authority Cabinet have today (January 31) allocated almost £60million in funding for schemes to transform transport and boost innovation across the region.
A total of £39.4million has been allocated to a number of transport projects, including railway station redevelopment, as well as schemes to improve bus services, cycling and walking and access to employment.
Capacity improvements at Hartlepool Station, work on disabled access at Billingham station, the creation of an Eaglescliffe Western Station Gateway and plans to redevelop Teesside International Airport station will all be funded from the pot.
A further £19million has been earmarked for investment in innovation which will be used to create new facilities and activity, help Tees Valley bid for national funding and to enhance the work of our research and innovation centres including the Materials Processing Institute, CPI and TWI.
Mayor Houchen said: “This massive funding commitment will touch on almost every aspect of transport and innovation in the region, in every corner of Teesside, Darlington and Hartlepool.
“Earlier this week I announced a significant step forward had been made in the plans to transform Darlington Station and just seven days ago was announcing new flights for our airport. But making sure local people can get around easily and quickly across our region mean much more than that. These projects will address day-to-day issues in our network to make a direct and clear impact on peoples’ lives.
“Our clean growth aspirations, along with our expertise in life sciences and emerging digital sector represent the high-quality jobs of the future. To grab these with both hands, as well as to capitalise on the opportunities at the South Tees Development Corporation, we need to be investing now.”
Cllr Heather Scott, Tees Valley Combined Authority Cabinet Lead for Transport, said: “This transport investment is far-reaching and will help people and businesses travel in, out and across Tees Valley more smoothly than ever. We’re targeting public transport, sustainable travel and road improvements to go even further and make sure everyone has access to the jobs and opportunities we’re helping create.”
Mayor Andy Preston, Tees Valley Combined Authority Cabinet Lead for Business Growth & Innovation said: “We’ve got some fantastic organisations and businesses in Tees Valley, many of them leading the world in research and innovation. These plans will give our area the boost it needs to go even further in breaking new ground, securing Government cash and creating new opportunities for our residents.”
The £60million earmarked for the schemes will come from the £588million Tees Valley Investment Fund which was agreed by the Tees Valley Mayor and Cabinet in January 2019.
An updated version of the plan is now available on the Combined Authority website at www.teesvalley-ca.gov.uk/investment
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