Tees Valley receives multi-million pound devo deal boost
Thursday September 29th, 2016
Local people in the Tees Valley receive a multi-million pound cash boost to invest directly in the future of their area.
Northern Powerhouse Minister Andrew Percy has announced the transfer of £15 million of government money directly to local people through the region’s ground-breaking devolution deal – the first of payments from a total of £450 million due over the next 30 years.
The extra government investment into the Northern Powerhouse has been made available as part of the devolution deal signed in October last year and how it is spent will be a decision entirely for local people – through the new Tees Valley Combined Authority.
The Tees Valley Combined Authority will now bring forward proposals to invest this additional funding, alongside matched finance from other sources, to deliver key elements of its Strategic Economic Plan; including:
- supporting more young people to gain the skills required to progress into work
- improving outcomes from education
- helping people with multiple barriers to work to find good quality jobs
- extending high speed broadband
- supporting growth sectors of the economy to generate more jobs
- developing cultural assets and the visitor economy
- creating viable business cases for major infrastructure investments
The deal also allows local people to take back control of decisions that matter to them, including:
- new powers over transport including influence over local bus operators and multi-year budgets
- control and funding over adult skills and employment training
- the ability to create mayoral development corporations to drive forward regeneration projects
And with Teessiders set to go to the polls in May to directly elect the wider region’s first-ever Mayor, Mr Percy said now was the time to get the Northern Powerhouse “firing on all cylinders”.
Northern Powerhouse Minister Andrew Percy said:
“The people of the Tees Valley came up with an ambitious devolution deal which puts them back in charge of decisions that matter to them.
Now today’s £15 million government investment into the Northern Powerhouse is proof that we will equip them with what they need to get the North firing on all cylinders and build an economy that works for everyone.
And with powers over transport, training and regeneration all coming back into Teessiders’ hands, local people will also now have the chance to head to the polls and vote for a powerful new Mayor to put them into practice.”
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