A new chapter has begun for manufacturing in the Tees Valley, following another £14 million of Government money for the South Tees Development Corporation (www.southteesdc.com), taking its total funding to £137 million.

The derelict land that was home to the Redcar steel works is to be made ready for development.

Work to establish construction access and utilities, plus a new spine road and roundabout, is set to begin in the first quarter of this year, with the first commercial tenants on the site expected from 2021.

Northern Powerhouse Minister Jake Berry said: “The Government is firmly behind the Tees Valley, and I’m determined to ensure that its people get the most out of the exciting growth opportunities available on their doorstep.

"Our investment of £14 million will help transform this derelict piece of land into a burgeoning new industrial quarter, which is expected to create 500 new jobs and attract an extra half a billion pounds of private investment.”

Ben Houchen, Tees Valley mayor and chairman of the South Tees Development Corporation, said: “The Government has committed £137 million to the Development Corporation over the last year, and this latest funding is vital to kick-start immediate work to redevelop land to help spearhead the transformation of the area.

“These huge schemes will deliver hundreds of quality jobs for local people, drive growth for the Tees Valley economy and continue our history of manufacturing excellence.”