Redcar Inn

Despite 2020 being a very challenging year – there were lots of amazing business success stories and exciting investments. Those in Redcar and Cleveland which either began or were announced totalled more than £1bn – meaning the future for the region looks incredibly bright.

Redcar & Cleveland Borough Council – who’re speaking at our North East Economic Growth & Development Conference – has highlighted some of those projects which are taking shape…

PD Ports is one of the major employers in the region and they’ve been securing deals which will have a huge economic impact on the region including:

  • Secured £230m waste to energy plant by Wentworth Clean Power (WCP) and an additional £430m for a second project [emaillocker id=”71749″]
  • £9.2m of investment in new bulks handling facility
  • £1.35m pilot vessel welcomed to its fleet
  • £3.36m refurbishment project on Number 1 Ro-Ro
  • New services including an Eastern Europe containership service and Bilbao service launched
  • Launched Future Teesport vision – outlining opportunities capable of adding £3.2bn to the economy and creating almost 40,000 new jobs.

Teesworks – the UK’s largest industrial zone which will be housed on the former SSI Redcar Steelworks site is now taking shape:

  • Land has been purchased through a CPO and transferred to South Tees Development Corporation to create Teesworks
  • 4,500,000 sq ft manufacturing zone announced, creating 1,000 construction jobs and 9,000 permanent roles – planning permission has now been granted
  • £150m steelworks demolition contract awarded, creating 300 jobs and kickstarting the development
  • Work on £1m Teesworks entrance began
  • Plans unveiled for a £90m quay at South Bank and full plan for Teesworks submitted – supporting 11,400 jobs

And there was more positive news in the region:

  • ICL Boulby, the world’s only producer of polysulphate and based in East Cleveland, explored the moon and mars with NASA
  • Anglo American secured the future of the £2,8bn Woodsmith Polyhalite Project with 2,000 jobs to be created.
  • Redcar Town Deal saw six projects selected to be included in the Town Investment Plan including upgrades to the town centre, a culture and leisure anchor attraction, station road development, clean growth skills delivery, Coatham Leisure quarter and improved connectivity to the Teesworks site.
  • In similar fashion the Loftus Future High Streets Fund was successful – seeing a £5.8m investment to improve the town centre. A new gym, relocation of the library, a focus on town centre workspace and more are all on the agenda.
  • Work on New Regent Cinema, a new £9m cinema in Redcar with three screens and fantastic sea views, got underway
  • A new hotel for Redcar was also revealed. The 42-bedroom hotel is proposed by The Inn Collection Group and they’re developing the hotel alongside a family restaurant.

The hear how your business can get involved in these transformational projects and the wider growth of the region register for the North East Economic Growth & Development Conference here: https://www.built-environment-networking.com/event/north-east-development-conference-3/

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