The South Tees Development Corporation was launched in August 2017 and is the single biggest development opportunity in the UK today. As a Mayoral Development Corporation, it was made possible following the election of the Tees Valley Mayor.
The South Tees Development Corporation area covers 4,500 acres of prime land south of the River Tees in the borough of Redcar and Cleveland, including the site of the former SSI steelworks. It is also home to many thriving companies, including PD Ports, British Steel, Redcar Bulk Terminal, Northumbrian Water and BOC. It benefits from river access as well as the deep water ports available through Teesport and Redcar Bulk Terminal. It also benefits from proximity to the world-class facilities at Sembcorp and the neighbouring Wilton International site. The Development Corporation was awarded £123million of funds from Government to begin land remediation, paving the way for large-scale industrial investment.
The South Tees Development Corporation is a sister company to the Tees Valley Combined Authority, with some shared resources and a common goal of creating jobs and increased prospects for the region’s residents. The Tees Valley Mayor is the chair of both organisations and, as such, can provide a common approach to achieving the ambitious agenda set out in the Strategic Economic Plan to create 25,000 new jobs by 2026.
If you want to find out more about the South Tees Development Corporation, including the full Master Plan launched in October 2017, then visit www.southteesdc.com