A transformative package of proposals to create 2,000 skilled jobs, regenerate key town centre sites and help Tees Valley become a global powerhouse in digital and creative industries has been welcomed.
The area has been allocated the first £80million as part of an overall £160million investment from the UK Government as part of plans to establish an Investment Zone.
The zone aims to increase inward investment, productivity and jobs in digital, creative and technology sectors while supporting the growth of world-leading companies in two cluster areas of Middlesbrough and Hartlepool.
It is hoped the investment will create more than 2,000 jobs and unlock a further £175million of investment in the next decade.
Dr David Dunn, Chief Executive Officer of Dynamo North East, said: “It’s fantastic to see that the first tranche of funding from the Investment Zone is now confirmed for the Tees Valley.
“The funding will not only provide a huge boost to the region’s creative and digital businesses but will also help breathe new life into the high streets while creating skilled jobs for local people.
“It is a welcome boost for the sector and we look forward as a collective to seeing how it drives economic growth and helps unlock further investment from the private sector.”
In partnership with Teesside University and local authorities, the Tees Valley Combined Authority will oversee the project.
Tees Valley Mayor Ben Houchen said: “Teesside is now at the centre of the UK’s creative and digital sectors, renowned for its growing excellence in areas such as gaming, film production and AI.
“We take pride in being home to global leaders in these fields, showcasing the region’s innovative spirit and potential.
“This Investment Zone is a huge step in enabling us to accelerate growth in the digital and creative sectors. This initiative will ignite our ambitions and provide resources to expand this industry, and position Teesside as a global leader.
“This promises well-paid jobs in cutting-edge industries, allowing people to build careers close to home. By retaining local talent, we’ll drive economic growth and secure a brighter future for Teesside, Darlington and Hartlepool.”
Peter Calvert, Founder and MD of Teesside-based tech consultancy, Embeddable, welcomed the news by sharing: “This investment is a catalyst for the Tees Valley and wider North East in securing our status as a leading tech and digital hub, on both a national and international scale.
“With our growing expertise in AI, software development, gaming, and the broader digital spectrum, the investment is set to drive innovation, support new and scaling businesses, and allow us to attract and retain key talent. It’s a significant boost to the North East’s position in the digital economy.”
