Financial Incentives and Support
If you want to find out about funding and financial support that is available in Tees Valley click here.
Making it easy to invest and grow
There are plenty of financial incentives and support for companies investing in Tees Valley, such as the Northern Powerhouse Investment Fund and the Tees Valley Capital Grant Scheme. Added to this are the financial incentives available on sites and premises through the seven Enterprise Zones, and the support available from the Tees Valley Combined Authority and partners, all making it easy to invest and grow in Tees Valley.
A strong track record
The Business Investment Team supports businesses to invest and grow in Tees Valley. Over £1.8billion of new inward investment has been made into Tees Valley since 2011, helping to both safeguard and create over 8,500 jobs across our key economic sectors.
The Business Investment Team is actively supporting a pipeline of new private sector investment projects into Tees Valley, with further projected investments across our core sectors including chemicals, advanced manufacturing, logistics, energy, business and professional services and within our growth sectors including digital, life sciences and healthcare.
Capital Investment Support
Tees Valley is one of very few areas in the UK able to offer the highest level of support for new capital investment and expansion projects. Support can include Capital Investment Grants, Enhanced Capital Allowances, training and support for research and development.
The Tees Valley Capital Grant scheme provides support to manufacturing and service sector businesses based in Tees Valley that offer more than a local service. Grants are available for capital investment projects which are designed to expand or diversify the business. Grants are available to eligible new inward investors as well as existing Tees Valley businesses. Please contact us for further information.
Tees Valley has secured an additional £13million of funding to help small and medium-sized companies. Tees Valley SMEs are being supported to innovate and to make productivity improvements, enabling them to remain competitive and prepared to capitalise on emerging growth opportunities in both local and international supply chains.
Northern Powerhouse Investment Fund
The allocation of local Tees Valley funds into the Northern Powerhouse Investment Fund is a strong sign of our commitment to leverage greater private sector investment into those SMEs with the highest growth potential across our region.
The Northern Powerhouse Investment fund provides more than £400 million of funding for SMEs in the Northern Powerhouse area. The fund offers early and later-stage debt and equity finance to the SMEs. The fund can offer:
£257million is being invested in key transport, infrastructure projects enhancing the strategic rail and road infrastructure including an allocation for local road enhancements, making it even easier for residents to work across the entire Tees Valley region
A further £146.5million has been committed to provide direct support for business growth and to enhance our infrastructure and to provide modern commercial premises.
Education, Employment and Skills
£55million has been allocated to enhance the education, employment and skills provision in Tees Valley to meet the future needs of our businesses and to support the development of schoolchildren with a particular focus on STEM subjects.
Culture and Tourism
We also recognise that creating a strong sense of place and nurturing our cultural offer is essential to raising the aspirations of our area and for attracting new talent to work in Tees Valley. We have therefore committed £60million to support our culture and tourism activities.
Research, innovation and development
Research, development and innovation is a core aspect of our Local Industrial Strategy and we already have world-class research facilities supporting both local and national businesses. We have committed to maintaining a leading position in R&D, with £20million allocated for this purpose.
Towns and Communities
We recognise the importance in creating a vibrant, attractive and sustainable place for businesses and residents. We are investing £50million in our town centres and local transformational projects.
Contact us today to find out why you should invest in Tees Valley