South Tees Development Corporation Moves Forward In Massive Regeneration Plans
South Tees Development Corporation is taking a huge step forward to secure the regeneration of its 4,500 acre industrial area, including the former SSI Steelworks site.
To prepare for this and its huge future potential, the Development Corporation will shortly be formally talking with land owners nearby to clarify their interest in the land.
This is an important preliminary action to correctly identify and connect with all who may have such an interest, with feedback being taken on board by the Development Corporation.
This is the first stage of a process called Compulsory Purchase. There are no plans for the Development Corporation to acquire private homes. The focus is on securing the regeneration of industrial land to secure jobs in the area for local people.
It is hoped these powers will not have to be used, but it is the start of a long process which will run concurrently by the Development Corporation to identify landowners and seek to purchase land within the area.
The area is the first Mayoral Development Corporation outside of London, launched by Prime Minister Theresa May last year.
It aims to generate 20,000 jobs over the next 25 years and, to date, more than 90 enquiries have been made from potential investors around the world.
One such investment announcement could be made in the coming weeks, signalling the first stage of development of the area, which has a rich industrial heritage and has seen many landowners over the years. The body will continue to engage with landowners, businesses and individuals in the region to deliver its vital vision for Tees Valley’s industrial future.