Partner Article

Tees Valley: Business Leaders react to £15m devolution funding boost

Business leaders from across the Tees Valley have welcomed the government’s £15m funding transfer with open arms.

Part of the region’s devolution deal, the people of Teesside will decide how the money will be spent.

Click here to read our full coverage of the deal or scroll down below to read how business leaders from across the region have reacted.

Nigel Mills, Chairman of the Entrepreneurs’ Forum

Speaking on behalf of the Forum, which represents more than 300 high-growth North East and Tees Valley businesses with an annual combined turnover of £2.3 billion and 22,000 employees, Mr Mills said: “This is a boost for business in the Tees Valley.

“This progress with the devolution deal will give local entrepreneurs the confidence to grow their businesses and create much-needed jobs. Increased support for skills, and the proposed export plan and annual inward investment event are of particular interest to the entrepreneurial community.”

James Ramsbotham, Chief Executive, North East England Chamber of Commerce

“This £15m is fantastic news for the Tees Valley and the culmination of hard work by the area as a whole.

“The business community strongly welcomes this investment and we will be working with the Combined Authority to ensure the funding is spent in the most effective way possible.”

Steve Grant, Managing Director of TTE Technical Training Group

“Creating a skilled workforce is essential to the future economic and social prosperity of Tees Valley and it is positive to see that this new funding will support training for young people.

“This is an excellent vote of confidence in the area and the collective desire between the public and private sector to drive Tees Valley forward.”

Heather O’Driscoll, Managing Director of Tees Valley Chartered Accountants and Business Advisers Waltons Clark Whitehill

“This is excellent news for businesses in the Tees Valley. Investment in infrastructure and skills is exactly what our area needs if we are to unlock its hidden potential, and increase employment and prosperity.

Graham Robb, Regional Chairman of the Institute of Directors

“Business will welcome this Excellent news for Teesside.

“It has come about because our local authorities are working in co-operation with one another to convince the Government they have credible plans to deliver a rising economy.”

Jonathan Willett, Director at Henderson Insurance Brokers Teesside office

“This is a welcome boost to the region, which will hopefully lead to further invest throughout the Tees Valley.

“The groundwork was laid with the announcement of the Devolution Deal and this latest injection of funding will be key to improving local services and, crucially, the potential to attract infrastructure projects to the Tees Valley, which could lead to greater economic prosperity and supporting local supply chains and jobs.”

Chris McDonald, CEO of the Materials Processing Institute

“The Tees Valley Devolution Deal is about developing manufacturing on Teesside and our global potential as leaders in industry and innovation.

“Receiving the first payment towards implementing the region’s long-term ambitions is a momentous occasion, which will underpin the capacity of the area to realise its potential, capitalising on our centuries of expertise.”

Mohammed Bashir, founder of Boro Taxis, one of Tees Valley’s largest private employers

“Any investment in the region should be welcomed by both the public and business community alike. In a Post-Brexit world, if Tees Valley is to grow and flourish then it is vital that the devolution of economic decisions continues to progress.

“Tees Valley Combined Authority’s economic plan has some strong points, but if we are to truly diversify our economy and move away from heavy industry, then it’s important that Tees Valley’s cultural and tourist attractions are properly supported and easily accessible.”

Got an opinion? We want to know what you think. Why not comment below and share your reaction to the deal?

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →