Tees Valley

A strong diversified economy

Tees Valley is well known for its industrial heritage and major investment in the chemicals sector.  Its petrochemical complex is Europe's second largest after Rotterdam and Teesport is an important asset.  Specialist skills and knowledge here will benefit the North and the whole of the UK.

	Vision: to build a strong diversified economy and develop sustainable communities.

The City Region has a population of 875,000, almost half of whom live within the Teesside conurbation Middlesbrough, Stockton and Redcar.  The sphere of influence extends from Peterlee in the north to Northallerton in the south and from Richmond in the west to Whitby in the east.

Economic assets and drivers

• The industrial complex based on chemicals, hydrogen economy, renewable energy and steel with a core of world-class companies and a strong research base.  The chemical industry alone employs 14,000 people and contributed £4.8 billion to GDP
• A world-class port, Teesport, the second largest UK port by volume
• A knowledge economy based on the capacity of the Universities of Teesside and Durham to generate new sectors
• The development of Durham Tees Valley Airport as a major employment location

Priorities and Objectives

• To grow the Tees Valley economy faster than the UK economy to narrow the gap in GVA
• To continue the rise in employment in the Tees Valley, encourage manufacturing industry to innovate and improve its productivity, and develop the service economy particularly in financial and business services
• To increase the stock of businesses in the Tees Valley
• To reduce migration out of the Tees Valley;  to reverse the level of out-migration from the core to the outer suburbs through the provision of a broader choice of housing in the centre of our main towns and reduce economic and social disparities within the region
• To upskill the workforce to obtain NVQ3 and 4 level qualifications but also reduce the people of working age with no qualifications
• To support the development of a more competitive heavy industrial complex including the process industry cluster and nurture the new energy economy companies including those in emerging hydrogen, biomass, biodiesel and wind energy technologies
• To secure the continued expansion of Teesport particularly by securing road and rail access improvements; and expand Durham Tees Valley Airport and associated business and distribution centres
• To support the expansion of Teesside and Durham Universities and their contributions to Netpark
• To develop key projects in Stockton-Middlesbrough as the core of the City Region, the Darlington Gateway and the Coastal Arc