Tees Valley and contribute an
additional £1bn per annum
into the Tees Valley economy.
Following an announcement by
the Chancellor Philip Hammond
at the 2018 Autumn Budget,
it became the only site in the
country with Special Economic
Area status. In March 2019, the
South Tees Development Corporation published its Master Plan for
the area, designed to set out:
Source: South Tees Development Corporation
“the vision, strategy and ideas for the transformational
regeneration of the South Tees Development Corporation area
into a world class employment-generating zone and economic
growth enabler for the Tees Valley.”
As I learnt in respect of the Development Corporations of the 1980s,
challenges of this magnitude take much longer to fix than any one
electoral cycle, but the approach taken is a promising one.
The Combined Authority has also invested in a number of additional
l £2m funding for highways improvements on the A171 between Swans
Corner to Flatts Lane in Middlesbrough.
l £3.37m funding to improve connectivity within the Darlington Growth
and Enterprise Zone.
l £220,000 to help bring a fleet of hydrogen road vehicles and new
refuelling infrastructure to the region.
l £2.95m funding for a highway improvement scheme to improve capacity
around the Cargo Fleet Roundabout in Middlesbrough.
l £20m to fully fund the delivery of the redevelopment of Middlesbrough
l £25 million to support the redevelopment of Darlington station.