Five Tees Valley towns set to receive £125m for regeneration boost

Five towns in Tees Valley are set to receive £125m to develop and implement regeneration plans.

Hartlepool, Middlesbrough, Darlington, Thornaby and Redcar will each receive up to £25m as part of the government’s new £3.6bn Towns Fund.

The funds will be used with the aim of boosting productivity, skills and living standards through town regeneration.

Tees Valley Mayor Ben Houchen commented: “I am absolutely delighted that after months of hard work and lobby government ministers, towns in the Tees Valley are getting up to £125m investment.

“We have seen significant investment into the Tees Valley, including money I have already given to help each of our five boroughs, with £150million earmarked in our Investment Plan to help deliver schemes that will revitalise our communities.

“With both that funding and further government backing, we have a war chest of more than £200m going to our towns so that we can continue to attract and retain the businesses our towns need to thrive and encourage even more people to these spaces.

“This will, in turn, drive up the visitor spend, boosting our economy and create jobs while making Tees Valley an even more dynamic and vibrant place to live and do business.”

Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day. Find out how Bdaily can help →

Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.