Regional growth funding to help create up to 700 new jobs in the Teesside region

A Teesside local enterprise partnership has revealed plans to create up to 700 new jobs in the area after securing a £7m investment from the BIS regional growth fund.

The Tees Valley Unlimited (TVU) enterprise partnership has developed the Tees Valley Jobs and Skills investment Scheme that aims to provide businesses with 12 month wage subsidies of up to 50 per cent in a bid to encourage companies to take on trainees, apprentices or graduates of any age, a news report in the local media has revealed.

Sectors eligible for the funding include manufacturing, engineering, digital, logistics, chemical processing and business support. Businesses have no limit to the amount of staff it employs, as long as the posts are new and last for at least two years.

Up until now, TVU has already received 43 applications to the scheme totaling £724,793 in wages that will create 119 roles on Teesside.

Stephen Catchpole, managing director of TVU, said: "It’s vital that we are able to support businesses in the area to ensure we can sustain and grow the economy and importantly continue to invest in the workforce.

"We would urge businesses to get in touch to find out if they are eligible as this is a great opportunity and companies will really reap the rewards."

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