The biggest development opportunity in the UK
The South Tees Development Corporation is the single biggest development opportunity in the UK right now. It is the first Mayoral Development Corporation outside of Greater London and the 4,500-acre site is six times bigger than the City of London.
The vision will see the area transformed into a hotbed of new industry and enterprise, focused on clean energy, the circular economy and industrial symbiosis and advanced manufacturing, that will create 20,000 new jobs and add an additional £1billion per annum into the Tees Valley economy.
The Development Corporation area is prime development land on the banks of the River Tees and benefits from the presence of strategically important businesses, facilities and operations that enhance the attractiveness of the site, including Teesport, Redcar Bulk Terminal, Northumbrian Water, British Steel and BOC.
The South Tees Development Corporation owns more than half of all the developable land within its boundary following a landmark deal with Tata Europe UK to acquire 1,420 acres in early 2019. It continues to engage with other landowners and interested parties and is expecting to have concluded all land deals by Q2 2020.
Access to Global Markets
It offers access to the River Tees as well as one of the deepest water ports on the east coast of England, making it ideal for companies looking to export to global markets.
The area has excellent transport connections, with rail-connected port-side facilities and access to the wider strategic road network and the rest of the UK. It is less than 30 minutes away from Teesside International Airport.
Special Economic Area
The South Tees Development Corporation has significant Government support and in the 2018 Autumn Budget it was granted Special Economic Area status, the only site in the UK to have such status. So far Government has backed the Development Corporation with more than £137million to prepare the land for new investment.
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