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Investing in our bright future

Despite the last 12 months being very challenging for us all, there were lots of exciting investments TOTALLING WELL OVER £1 BILLION announced or started in Redcar and Cleveland in 2020, many of which are setting the foundations for a very bright future, from this year and beyond. We take a look at some below.

PD Ports – one of our most important businesses and a major employer have done some incredible things in 2020 –

 

Freeport – In March 2021, as part of the Spring Budget, Teesside was announced as one of the first places to get Freeport status under the new Government policy to create Freeports across the country.

Covering 4,500 acres, the Teesside Freeport is the largest in the UK. To put the size into perspective, it is equivalent to 2,550 football pitches. It will create more than 18,000 jobs and provide a £3.2billion boost to the local economy over the next five years. Read more on the Tees Valley Combined Authority and PD Ports websites.

 

Teesworks – The UK’s largest industrial zone, right here in Redcar and Cleveland continues to make great progress. Here’s some of the things done in the last year –

 

ICL Boulby – the world’s only producer of polysulphate, proudly based at East Cleveland had a great 2020 –

 

Anglo AmericanAnglo American secured the future of the £2.8Bn Woodsmith Polyhalite Project, with 2,000 jobs to be created. Anglo American have announced a major recruitment drive by the spring as construction  continues at a pace.

TeesREP – The £650M biomass power plant is getting ready to power up at Teesport. The huge project, from MGT Teesside will provide 100 full time jobs, with a further 300 in the supply chain. You can read more on this exciting development HERE.

Redcar Town Deal – Six exciting projects have been selected to be included in the ‘Town Investment Plan‘ – submitted to government for multi-million pound funding from the ‘Town’s Fund’ – these projects would have a transformational impact on Redcar town centre –

  • Town Centre Transformation
  • Culture and leisure anchor attraction
  • Station Road development
  • Clean growth skills delivery
  • Coatham Leisure quarter
  • Improving connectivity with Teesworks

Loftus Future High Streets Fund – the government has awarded £5.8M from their Future High Streets Fund for transformational plans to improve Loftus town centre. The pool of projects are:

  • New gym facility to complement the existing leisure centre
  • Relocating Loftus Library to create a new community hub linked to the High Street
  • Rejuvenating Coronation Park with improved lighting and landscaping
  • Creating more quality housing and improving key gateways
  • Creating new visitor accommodation and commercial uses in empty buildings
  • Creating quality workspace for new and existing businesses
  • Creating a cultural hub in a disused building
  • Improving key shop fronts in the heart of the town
  • Improving the town’s appearance with gateways, paths, landscaping, lighting and paving

New Regent Cinema – Work is underway to develop a brand new £9M state of the art cinema for Redcar:

  • Three screens – 35, 44 and 95 seats
  • New art-deco style cafe and licensed bar with fantastic sea views
  • Opening 2022

New hotel for Redcar – Initial designs have been revealed of what the 42-bedroom hotel to be built in Redcar could look like. Subject to planning approval, the North East chain, Inn Collection Group, who also own the Kings Head in Newton-under-Roseberry and The Stables in Whitby, are set to finance and develop the hotel and family restaurant which will be based in Coatham.

 

So, lots of exciting projects, demonstrating a lot of confidence in the future of Redcar and Cleveland, and lots to be shouting about in 2021 and beyond!  

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