BUSINESSES have until the end of the month to submit views on a strategic plan for the regional economy. 

The first draft of the Tees Valley Strategic Economic Plan was sent to ministers last month and will be used to help Tees Valley Unlimited (TVU), the Local Enterprise Partnership identify the area’s main economic challenges and how they can be addressed with greater freedoms and flexibilities through the allocation of the Government’s new Local Growth Fund.

Known as Growth Deals, the Local Growth Fund will be implemented in April 2015. 

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Having recently secured City Deal status, TVU is now able to negotiate with ministers on the finance and resources needed to help attract investment, improve infrastructure, train workers and create local jobs.

Linda Edworthy, director of policy and strategy at TVU said: “The Strategic Economic Plan looks to set out a vision for the future of the Tees Valley economy. It highlights strengths and opportunities and identifies existing barriers to growth.

“We have worked with a number of partners across the area to bring together priority projects and priority needs and now are putting the draft plan up for public consultation so residents and businesses and the wider Tees Valley have the chance to comment and indeed offer further considerations.”

Consultation is open until Friday January 31.

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