Home » News » Mayor Hails ‘Historic’ £182 Million+ Budget Boost For Tees Valley
Tees Valley Combined Authority | Published on: 22nd November 2017
£123Million to kick start the South Tees Development Corporation
Tees Valley Mayor Ben Houchen has today hailed the Chancellor’s announcement that £123 million will be given to Tees Valley to kick-start the work of the South Tees Development Corporation (STDC), as well as a number of other positive funding announcements for the region.
The £123 million will be used towards remediating the site and will pave the way for investment from some of the 60 private companies which have already expressed serious interest to the recently established South Tees Development Corporation.
A comprehensive and fully-costed bid for cash to start regenerating the former SSI site was submitted by the STDC in September 2017. Since then, Tees Valley Mayor Ben Houchen has met with the Chancellor, Business Secretary, Local Government Secretary and the Northern Powerhouse Minister to push for this investment.
Welcoming the news, Mr Houchen said: “I have spent the best part of six months repeatedly banging the drum for our area in government. It has been exhausting, but I’m pleased to say it has finally paid off. The Tees Valley has found its voice and we are punching above our weight.
“This historic windfall is the clearest sign yet of the Government’s commitment local people. With this massive investment, we can stop talking about jobs and start delivering them.
“Over 60 private companies are lining up to down root on the former SSI site, and with this cash boost from the government we can finally get spades in the ground next year to start remediation.”
Cllr Sue Jeffrey, Leader of RCBC and Vice Chair of the South Tees Development Corporation, said: “I welcome the announcement that Government will commit to remediation and regeneration of the South Tees site. This new investment will allow us to continue the important work to keep the site safe as well as prepare for new investment.”
£59Million to connect the Tees Valley
A ground breaking £59 million transport fund has been devolved to the Tees Valley to radically improve public transport across our region.
In a bold move from Government, the six Metro Mayors in England will receive half of a national pot to locally deliver the schemes. Tees Valley’s allocation is based on an equal division per head of population.
Mr Houchen said: “Whilst other areas will have to go cap in hand to Government and complete tedious applications for a slice of the pie, the Tees Valley will receive a ring-fenced pot.
“The current public transport system for the Tees Valley is nowhere near good enough. With this investment, I want to improve the quality, frequency and reliability of the bus and rail services in our area.
“I will now instruct my officials to start pulling together proposals to fund.”
Councillor Bill Dixon, Cabinet Member for Transport at the Combined Authority, said: “This is a positive step forward for our area. We can use this new investment to deliver our ambitious plans for much-needed upgrades to our local public transport system. We’ve been developing plans for some time but now we can start delivering them. This is about improving the daily journeys taken across the Tees Valley, and we will be working closely with communities to ensure we make the maximum impact for our residents and businesses.”
The Combined Authority will be work closely with the bus and rail operators to maximise this investment and ensure real change is driven to the transport system.
The budget also announced that the Government and Tees Valley will enter into discussions for further devolution to promote local growth.
Mr Houchen, added: “We are no longer an afterthought. For years we’ve had warm words but now Tees Valley has found its voice”
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