This project will see the remediation of contaminated land and for infrastructure works to help enable the development of high-quality commercial accommodation at the Tees Advanced Manufacturing Park (TeesAMP), a joint investment with Middlesbrough Borough Council.
The Combined Authority’s investment will be refunded from business rates paid in the designated Enterprise Zone by the companies attracted to the site.
The pioneering £22.5million Manufacturing Park plan aims to attract state-of-the-art manufacturing firms seeking premises in the region. The site is already home to the TWI Technology Centre, one of the UK’s foremost industrial research organisations.
Alongside the funding from the Combined Authority, Middlesbrough Borough Council will put around £12.5million into the scheme.
The project will enable the remediation of 20,000 sq/m of land on the old Southwest Ironmasters site in Middlesbrough, to create 180,000 sq/ft of premium advanced manufacturing space and create TeesAMP.
This Proposal was supported with £120,000 from the Development Fund to undertake site investigations and plans to deal with heritage assets on site. This is one of the first projects where TVCA can use its borrowing powers to invest with the return coming from the business rates income from the site.
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