1. ITV Report

Prime Minister to launch South Tees regeneration masterplan

Theresa May will launch the South Tees Development Corporation Photo: PA - ITV

Hundreds of businesses on Teesside will be able to benefit from a major regeneration expected to create thousands of jobs and significantly boost industrial growth in the North East.

During a visit, Prime Minister Theresa May has officially launched the South Tees Development Corporation, which has been working on plans to redevelop a 4,500-acre stretch of land on the south bank of the River Tees.

As the first Mayoral Development Corporation outside of London, the STDC will become a flag-bearer for major business growth across the region and will work with industry to take advantage of opportunities in the area - part of which was formerly the SSI steelworks.

South Tees Credit: ITV

I want every part of the UK to reach its full potential and the regeneration of South Tees is a crucial step to stimulate economic growth across Tees Valley.

The South Tees Development Corporation - the first of its kind outside of London - is a prime example of how placing power in the hands of local communities can drive growth. To deliver a strong, outward-looking Northern Powerhouse, part of an Industrial Strategy that works to improve productivity, we have to see all corners of the North reach their full economic potential. This long-term plan being led by Mayor Ben Houchen will bring great new opportunities for South Tees, helping to create the conditions where successful businesses can emerge and grow, and in turn provide high-quality jobs for local people."

– Theresa May
South Tees Credit: ITV

In the coming weeks, the corporation will publish its draft plans, outlining that it will work with investors and cutting-edge industry from across the region to transform South Tees and the wider area.

Teesport is the largest exporting port in England and is also the deepest on the east coast of the UK.

Placed in the heart of Teesside's industrial zone, the area already enjoys unique exporting potential and the STDC plan will seek to further spur these opportunities.