Member Article

TVU looks to London for investment

The board of Tees Valley Unlimited have begun work with a number of prospective investors and politicians in London, in a bid to promote the area’s economic potential.

The Local Enterprise Partnership, which was one of the first to be recognised by the Government, has held a number of meetings in the Capital to inform interested parties about the opportunities and challenges involving the acceleration of growth in the area.

Stephen Catchpole, TVU Managing Director, said: “A new economy is taking shape in Tees Valley and it is vital to the re-balancing of the UK economy that it succeeds.

“As such, it is important that we engage with potential investors, key stakeholders and those at the heart of Government to appraise them of our progress and what future opportunities are emerging within the Tees Valley area.”

Despite the fact that Tees Valley Unlimited’s work has only been underway for a year, it has achieved some notable successes during that time.

It has helped 20 projects lever £68.3 million from the first two rounds of the Regional Growth Fund, and it is hoped that this will attract more than £400 million of private sector for the area.

It will also generate export and growth opportunities, and could safeguard more than 5000 jobs across the area.

As part of their Local Enterprise Partnership bid, Tees Valley Unlimited decised an innovative strategy encompassing 12 sites across the area, offering financial incentives to attract investment and growth, delivering significant job opportunities.

As well as stimulating the creation of 1,250 new businesses, the scheme focusses particularly on businesses in the digital sector.

Later this year businesses can look forward to the full implementation of the Tees Valley Enterprise Zone, the third and fourth rounds of the Regional Growth Fund, and work to secure superfast broadband throughout the Tees Valley.

Mr Catchpole said: “It is imperative that as wide an audience as possible is made aware of the business opportunities that are emerging in the area.

“These events gave TVU and its partners the opportunity to meet prospective inward investors and politicians face to face and present an economic overview of Tees Valley and its business potential.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .