South Tees Development Corporation
In August 2017 the South Tees Development Corporation was officially launched by Prime Minister Theresa May. The 4,500 acre development area represents an international-scale opportunity to attract investors and improve the economy in what is the single biggest development opportunity in the UK.
- The first Mayoral Development Corporation to be set up outside of Greater London
- The South Tees Development Corporation site set to become the UK's first Special Economic Area – ensuring businesses help clean up the site
- £137 million of new money secured from Government to prepare the site for private investment
- 1,420 acres of land secured – an area the size of Gibraltar!
- Agreement in principle with the Thai banks to take back control of SSI's 870 acres of assets
- 25-year vision to create 20,000 jobs and an additional £1 billion a year into the local economy
- Multi-billion pound Clean Gas Project announce
- £250million PMAC Energy from Waste plant announced
- Home to £650million MGT power plant – the world’s largest biomass plant
- 100 investor inquiries from global companies wanting to base themselves on site