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 our partners, all making it easy to invest and grow in Tees Valley
Direct Grant Support
The Tees Valley Grant scheme has supported Tees Valley businesses, particularly growing SMEs, with £5.2million of grant funding awarded since 2017. This has leveraged £32million of private sector investment and supported nearly 1,200 jobs across the region.
Looking to the future, we are currently working with a pipeline of new private sector investments across our priority sectors, with a combined capital investment of £3.5billion and supporting 9,700 new and existing jobs in Tees Valley.
We are committed to support the growth of SME businesses in Tees Valley, to encourage both diversification and productivity improvements for competitive advantage and to best prepare to respond to emerging growth opportunities in both local and international supply chains.
We have allocated an additional £13million of funding to help small and medium-sized companies, with these measures delivered through the Tees Valley Business Compass, the growth hub for Tees Valley, which was launched in July 2014 to provide a central point for companies to access business support across Tees Valley.
Northern Powerhouse Investment Fund
Our allocation of £19.5million into the Northern Powerhouse Investment Fund is a strong sign of our commitment to leverage greater private sector investment into high growth SMEs in Tees Valley.
The NPIF provides more than £400million 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:
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.
Tees Valley Capital Grant Scheme
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 for eligible and new inward investors as well as existing Tees Valley businesses.
Please contact us for further information.
Contact us today to find out why you should invest in Tees Valley