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The Government today announced over £60M investment in the North East to support the region’s industrial transition to low carbon and advanced manufacturing.
Following the announcement that Corus would cut 1700 jobs from its Teesside workforce, the Government has decided to prioritise a number of projects under consideration to secure immediate investment to support workers in the area. The overall package will create an estimated 3000 new jobs in the short to medium term and sustain over 10,000 jobs long term. Immediate investment covers:
This package will be structured in two parts.
The first part will address immediate issues arising from the Corus Redcar mothballing, including providing around £10M for apprenticeships and support for people to start businesses and up to £20M investment in the nearby Wilton International site, the other major employer in the vicinity to strengthen and sustain its competitiveness and employment. The enterprise support will be targeted primarily at redundant workers and could create up to 300 jobs.
The £30m of further money will equip Teesside to move beyond traditional heavy industry to realise its potential to be part of our low carbon manufacturing base. This includes investment in redevelopment of industrial land and infrastructure. It also includes investment to establish bio-based materials, to reduce energy use of industry in the area, for initiatives on carbon capture and storage and support for technology transfer and new business practices.
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