Newspaper article Evening Gazette (Middlesbrough, England)

Local Economy Showing Signs of Improvement; Commercial Feature in Association with Tees Valley Unlimited

Newspaper article Evening Gazette (Middlesbrough, England)

Local Economy Showing Signs of Improvement; Commercial Feature in Association with Tees Valley Unlimited

Article excerpt

THE Tees Valley economy is based on the largest integrated heavy industrial complex in the United Kingdom. Our performance has traditionally been poor but there have been signs of improvement in recent years.

For example:

In the three years to end of 2006 12,800 jobs were created - mainly in the service sector.

Economic activity and employment rates are rising.

Migration from the area has fallen from 1,500 a year in the 1990s to zero.

Major regeneration projects have taken place - for example at Teesdale, Hartlepool Marina and in Darlington.

There has been pounds 1.5bn investment in the chemicals and energy sector, with a further pounds 5bn in the pipeline.

The challenge now is to use the opportunity offered through the Tees Valley Business Case and the MAA initiative to grow the Tees Valley economy faster than the national average.

The MAA programme is targeted at using available funds to deliver improvements in three key areas: REGENERATION - with pounds 20m of activity each year including projects such as the Darlington Gateway, the Stockton-Middlesbrough Initiative and the Coastal Arc programme for the communities of Hartlepool and Redcar and Cleveland. …

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