Member Article

Lord Heseltine returns to Tees Valley to launch Strategic Economic Plan

250 business leaders gathered in Tees Valley today to join Lord Michael Heseltine in launching the new Strategic Economic Plan.

Backed by leaders of the five councils, the plan reaffirms commitment to the economic growth of the Tees Valley,building on proposals from earlier this year.

The Industrial Strategy for Tees Valley 2016–2026 sets out plans to create 25,000 additional jobs, prioritising improving skills and infrastructure, as well as supporting business growth.

Welcoming the plan, Lord Heseltine said: “Across the Tees Valley business is buoyant with 4,000 more people in work than a year ago.

“We’re determined to build the Northern Powerhouse and this Plan will help make sure the extra £450million the area will benefit from – thanks to their historic devolution deal – will be spent on projects boosting growth right across region.”

With a £12.3 billion economy and world class expertise in chemicals, energy, health innovation and advanced manufacturing, Tees Valley makes a major contribution to the UK economy.

Opening the event, he said: “We were pleased to welcome Lord Heseltine back to Tees Valley to launch this report.

“He recognised the opportunities in Tees Valley and the positive contribution our councils and businesses can make to transform our local economy.

“Our new plan demonstrates our determination to continue to transform our economy, accept devolved responsibilities, and set a new industrial strategy to attract investment and create good quality jobs.”

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