Tees Valley Combined Authority | Published on: 19th June 2019
Mayor Ben Houchen has led representatives from top Tees Valley businesses to highlight the region’s strengths and huge opportunities for inward investment at the UK’s premier logistics event.
The Mayor was joined by PD Ports, Redcar Bulk Terminal, AV Dawson, Stockton Riverside College’s Tees Valley Logistics Academy, LV Shipping and Air Liquide for Multimodal 2019. Taking place at Birmingham’s NEC, Multimodal is a major national freight, logistics and supply chain management conference.
At the event, Mayor Houchen strongly made the case to investors for the South Tees Development Corporation site, the single biggest development opportunity in the UK today, and Durham Tees Valley Airport.
More than half of all developable land at the Development Corporation site has now been brought back into public ownership and is investor-ready. The wider 4,500 acre site has a first-phase investment pipeline of £10billion and has had more than 100 serious investor enquiries from around the globe.
In March this year, the Tees Valley Mayor brought Durham Tees Valley Airport back to public ownership and Stobart Group were announced as joint venture partners. A 10 Year Rescue Plan to turn the airport around is now being implemented, with land on the 819-acre site available for private investment.
At a panel debate with investors, the Mayor also underlined plans to establish the UK’s first free port in Tees Valley and the benefits such a status would bring for businesses.
Free ports provide special freedoms to trade within an area around a major port. Such a status supports international trade expansion, attracting jobs and investment, by offering exemptions from certain operational, regulatory and customs requirements.
More than 250 exhibitors and 9,000 visitors were expected across the three-day event focused on logistics, one of Tees Valley’s key sectors. These included global leaders such as Eddie Stobart, Dachser and Kuehne + Nagel.
Mayor Houchen said: “My one mission at this major inward investment event is to shout about the opportunities at our local airport and the former Redcar steelworks site.
“Leading a huge delegation of local businesses, I will be doing all I can to boast about our fantastic assets, workforce, location and expertise.
“Whether home or abroad, I’m determined to do all I can to make sure investors know that our airport, the former steelworks site and our region is open for business, and highlight all of the benefits Brexit can bring.”
PD Ports has been working in partnership with the Combined Authority at Multimodal over the past five years. This year Geoff Lippitt, PD Ports’ Business Development Director spoke alongside the Mayor during the seminar, highlighting the collaborative work to drive job creation, economic growth and inward investment into Tees Valley.
Geoff Lippitt said: “We have proudly showcased Teesport and the wider economic opportunities across the Tees Valley to investors since Multimodal launched 12 years ago. We are delighted to be here alongside Tees Valley Mayor, Ben Houchen to promote the opportunities at Teesport.
“As we leave the EU and become an outward globally trading nation we need to look at the opportunities that will stimulate economic growth, sustainability and job creation for the Tees Valley region. A vibrant modern well invested port at the heart of our region and the North of the UK enhances the opportunity to attract further inward investment, create a platform for growth and help to develop long-term sustainable industries for the Tees Valley and the local and regional economy.”
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