Member News
Funding for key projects ranging from improving town centres to supporting local businesses and helping people into work is to continue after additional money was secured.
Tees Valley Combined Authority has been awarded £21.5m from the UK Government’s Shared Prosperity Fund (UKSPF) to support a range of programmes to drive economic growth, create jobs and improve local areas.
The money will support a further year of projects from April 2025 and builds on a £47million allocation from the fund over the past three years.
A proposal to accept the funding into Tees Valley Combined Authority’s updated Investment Plan was approved by TVCA Cabinet members last week.
Tees Valley Mayor Ben Houchen said: “From helping our fantastic businesses grow to making our streets cleaner and safer, we have achieved a huge amount since 2022.
“We’ve done this by making the right decisions on how best to spend money to provide maximum benefits for the people of Teesside, Darlington and Hartlepool.
“It’s outstanding news that we’ve now received this further £21.5million. We’ve worked hard to ensure plans are already in place to make sure we continue to deliver on the success we've so far delivered.”
Funding in previous years has delivered projects including new enforcement officers in Hartlepool to tackle anti-social behaviour, support for popular festivals including Festival of Thrift in Redcar and Billingham, and investment to support the ongoing transformation of Stockton High Street.
Money has supported hundreds of local businesses to invest and grow through schemes offering advice and funding in areas ranging from digital, net zero, supply chain and start-up help.
It also has played a vital role in improving the jobs prospect of local people through programmes such as Multiply – which provides free numeracy courses for adults – and Move Forward, which offers intensive one-to-one support to help the long-term economically inactive.
UKSPF was launched as a national three-year fund in 2022 to replace European Structural and Investment Funds such as the European Regional Development Fund and the European Social Fund after the UK’s exit from the European Union.
