Printer Friendly

United Kingdom : Heseltine appointed to lead Tees Valley investment programme.

Lord Michael Heseltine to chair a new inward investment programme for the Tees Valley.The government has appointed Lord Michael Heseltine to chair a new inward investment programme for the Tees Valley, following the closure of the SSI steelworks in Redcar.

This Tees Valley Inward Investment Initiative will work to boost growth and create jobs across the region, supporting existing local plans. It will have a specific remit to attract foreign investment and boost the region s international profile.Lord Heseltine will be in the region on Monday (16 November 2015) with Northern Powerhouse Minister James Wharton. Together, they will meet the Local Enterprise Partnership (LEP), leader of Redcar and Cleveland Council, and the regional director for UK Trade and Investment.

Business Secretary Sajid Javid said:The closure of the SSI steelworks plant was a huge blow to local people. On top of the up to Au80 million package of direct support, we are determined to do all we can to secure long-term growth for the area and people of Teesside.Michael has a record of getting things done. He has a wealth of experience of working closely with local communities, business acumen and passion for investment and regeneration, and it s a real coup he s agreed to take on this job.

Lord Heseltine said:It is a great honour to be asked to help with the government response to the sad events in the steel industry in Teesside. I look forward to joining James Wharton, the local MP and Minister for the Northern Powerhouse, in Teesside to meet those engaged in a number of local initiatives and determine how I can support their activities.In this new role, Lord Heseltine will work closely with UK Trade and Investment, the Tees Valley Unlimited LEP and the local Redcar SSI Taskforce to oversee negotiations with potential investors, maximise these opportunities and speed up their delivery.

Northern Powerhouse Minister James Wharton said:The closure of SSI has been extremely difficult for the local community, in Redcar and in the wider Tees Valley.So I m pleased to be working with Lord Heseltine, who will bring his wealth of experience to bear to attract investment opportunities and new jobs for local people.

Former Deputy Prime Minister Lord Heseltine is currently an adviser to the government on local growth following his 2013 report No Stone Unturned .Lord Heseltine s appointment as chair of the Tees Valley Inward Investment Initiative follows the recent signing of an historic agreement to devolve power from Whitehall to the Tees Valley.

This includes:a new investment fund of Au15 million a year over the next 30 years,the power, if they have the support of the business community, to raise business rates to help fund new infrastructure,responsibility for a devolved approach to business support from 2017, to be developed in partnership with government

Voters will choose a directly-elected Mayor in 2017, who will take on a raft of new powers.This follows a package of government support of up to Au80 million, including funding for affected SSI workers to train at local further education colleges, tailored support through JobCentre Plus offices and finance to assist workers if they want to start their own businesses.

[c] 2015 Al Bawaba ( Provided by SyndiGate Media Inc. ( ).

COPYRIGHT 2015 SyndiGate Media Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2015 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Mena Report
Date:Nov 14, 2015
Previous Article:United Kingdom : Innovate 2015 backs Oaktec's novel gas-powered engine with 'cash'.
Next Article:United Kingdom : Overnight resurfacing on A23 Gatwick Airport Way.

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters