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