Hope for Teesside as £60M Investment Package Announced

photo : BBC

The UK Government has announced a £60M investment package to support the rejuvenation of industry in the region. and to develop it as a centre of excellence for low carbon and advanced manufacturing technologies.

Teesside, in the North East of England, has long been at the heart of the UK Chemicals industry, with the skyline dominated for many years by the (ex) ICI plants at Wilton, North Tees and Billingham.

The industrial base has significantly declined in recent years, however. ICI no longer exists and there have been multiple chemical plant closures in the region. The situation was exacerbated further with the recently announced closure of the Corus steel plant in the region, with the loss of 1700 jobs.

The £60M investment package will be used in a number of ways. Firtsly, to provide immediate support in the aftermath of the Corus closure. Secondly, there will be investment to help the region establish itself as a low carbon base; with investment to establish bio-based materials, to develop low energy technologies, for development of carbon capture and storage and to develop new business practices.

Very positive news. The region has the skills, the infrastructure and the desire to become this centre of excellence for low carbon technologies. With the political will, a strong and coherent plan and some targeted investment, this dream can  become a reality.