Bosses hail 'transformative' £80 million zone boost

A “transformative” £80 million investment to help the Tees Valley become a “global leader” in digital and creative industries has been agreed.

The funding, part of a £160 million Government initiative to create the Tees Valley Investment Zone, will create 2000 skilled jobs and drive forward the development of digital and creative sectors in Middlesbrough and Hartlepool. 

Proposed developments include the redevelopment of the House of Fraser and Marks & Spencer buildings in Middlesbrough, as well as the expansion of Northern Studios, in Hartlepool. 

Officials say the investment will not only enhance digital infrastructure and support business growth, but could potentially “unlock” a further £175 million of investment in the region over the next decade.

Chris Cooke, Middlesbrough mayor and Tees Valley Combined Authority cabinet member, said: “The Investment Zone funding should speed up plans to bring the House of Fraser and Marks & Spencer buildings back to life.

“Both sites have stood empty for too long, and we need businesses and footfall on that key stretch of Linthorpe Road as soon as possible.

“Middlesbrough has led the way regionally on digital for many years, and the focus on that sector is absolutely right.

“This money can help support jobs and local families, and give our town centre a boost.”

In partnership with Teesside University and local authorities, the Tees Valley Combined Authority will oversee the project.

Professor Stephen Cummings, pro vice-chancellor (research and knowledge exchange) at Teesside University, added: “As a university whose core mission is to transform lives and economies, we are delighted at this announcement.

“Teesside University has played a key role in developing and supporting the region’s thriving digital and creative sectors through industry-applied research and skills development.

“Many of the businesses that form the bedrock of this sector are founded and staffed by our graduates, and we look forward to working with our partners to ensure this economic success story continues to grow and prosper.”

Tees Valley mayor Ben Houchen added: “This Investment Zone is a huge step in enabling us to accelerate growth in the digital and creative sectors. 

“This initiative will ignite our ambitions and provide resources to expand this industry and position Teesside as a global leader.”

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