A draft masterplan for the economic development of the Tees Valley has been unveiled by the South Tees Development Corporation (STDC) at a special event in Redcar.
The 25-year plan sets out the STDC’s regeneration goals for the area.
A 4,500 acre site, which includes the former SSI steelworks, will be dedicated to industrial related employment
Once fully developed the vision would see 20,000 jobs created and add an additional £1b per year to the local economy.
Tees Valley Mayor Ben Houchen heralded the beginning of a new era of economic development in Tees Valley, as he joined more than 250 regional business and political leaders to launch the masterplan.
A Master Plan consultation will tour Tees Valley with outline diagrams of how the site will be developed.
The board in charge of the plans has already received around 60 enquiries from around the world, according to the South Tees Development Corporation, and has a number of commercial proposals to evaluate.