Teeside regeneration plans could create up to 20,000 jobs
Plans to regenerate a former Teeside industrial site could lead to the creation of up to 20,000 new jobs in the area, a news report in the local business media has been able to suggest.
The masterplan has earmarked the former SSI site and surrounding area for redevelopment, in a move that could potentially create a "hotbed of new industry", according to Tees Valley mayor Ben Houchen.
In a bid to transform the fortunes of the area, a draft masterplan drawn up by the South Tees Development Corporation (STDC) has been drawn up and unveiled to more than 250 regional business and political leaders.
The 25-year initiative is designed to dedicate the site to industrial-related employment, with the space set to be divided into different zones suitable for different types of businesses and uses.
It will also include a coastal community use zone which will protect the natural area that bounds the site and the sea at Redcar.
Once fully developed, the vision could lead to 20,000 jobs being created and an additional £1bn per annum being injected to the local economy.
Tees Valley mayor Ben Houchen said: "This is the single greatest development opportunity in the UK right now.
"The vision of the Development Corporation will see the area completely transformed into a hotbed of new industry with sustained economic growth and prosperity for the region. Covering more than 4,500 acres and home to the deepest port on the East coast, it has already attracted significant interest from investors across the globe.
"The opportunity alone stands to create 20,000 new jobs in skilled sectors with good salaries and is heavily focussed on the area’s key priorities in manufacturing and advanced technologies.
"Whilst this is a 25-year vision, we are all working flat out with investors and I am confident we will be making some very significant announcements in the next year; it’s a very exciting time for our region."
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