One North East today unveiled a multi-million package of support for Tees Valley businesses with the potential to create and safeguard 573 jobs.  

The regional development agency approved almost £7.5m of investments in five companies across the Tees Valley that will create 237 new jobs and safeguard a further 336 catalysing investment of £140m in Tees Valley.

The funding is part of the £60 million investment for the North East announced by the Business Secretary Lord Mandelson in December 2009 to support the region’s industrial transition to low carbon and advanced manufacturing.

The most recent approvals bring the total investment made in the area through the Tees Valley Industrial Programme (TVIP) to almost £20m in just three months since the programme’s launch.  This will result in the creation of over 1200 jobs, safeguard a further 1100 jobs, catalyse £180m business investment and help create almost 700 new businesses.

Companies benefiting from the additional investments include:

• £2m into MSD Biologics UK Ltd (formerly Avecia), based in Billingham – creating up to 75 jobs over the next 3-5 years. The investment will allow the manufacturer of high-quality, technologically advanced biopharmaceuticals to upgrade its commercial manufacturing facility (ABC5000).
• £2m into PYReco, based in Wilton – creating 52 jobs. The investment will help fund the development of a new processing plant for the reclamation and recycling of tyres and rubber to recover carbon black, steel and oil. The project is also expected to create 240 construction jobs over the next five years.
• £1.34m into GrowHow, based in Billingham – helping to safeguard the future of the site, which currently employs 200 people. The investment will allow the fertiliser manufacturer to press ahead with a £9m project to slash Nitrous Oxide emissions at its plant. Around 50 construction jobs will also be created by the project.
• £621,600 for BOC, based in Tees Dock, Middlesbrough – safeguarding 40 jobs at the industrial gases manufacturer through the first of our energy efficiency grants to upgrade and modify the Air Separation Unit with the installation of a hydrogen trailer filler facility.
• £1.5m into Billingham-based Tees Alliance Group, building on the Department for Energy and Climate Change’s earlier investment to help the company supply the offshore wind industry, creating 110 new jobs and safeguarding a further 33.  Total employment linked to the project is estimated at over 400.

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One North East