The Tees Valley Single Pot breaks down into four components:
Investment Fund Grant
An annual payment of £15m a year with a maximum value of £450m over
An annual transport grant of £13.930m each year from the 2016/17
financial year to the 2020/21 financial year, plus an additional £2.298m
from the National Productivity Investment Fund.
Adult Education Budget
A budget to provide funding for training and education to help people
aged 19 and over move into work, apprenticeships or further education
(currently totals around £30m a year).
Local Growth Fund
A fund to improve the Tees Valley area, including ‘flexible’ funding to be
spent on local growth priorities. The total ‘flexible’ element of the Tees
Valley Local Enterprise Partnership’s Local Growth Fund allocations for
2016/17 to 2020/21 is £103.129m.
Alongside the above, in November 2017, the Combined Authority was
provided with an initial £59m from the Transforming Cities Fund
with a further £16.5m awarded taking the total to £75.5m.⁸²