A MULTI-MILLION pound investment into a town centre will give it the “context of a city”, it has been claimed.

Plans to “drive forward Middlesbrough’s economic resurgence” by creating 5,000 new jobs and homes in the town were unveiled on Monday.

The Northern Echo: £700m investment in town will give it ‘city context’

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Middlesbrough’s Investment Prospectus was officially launched at the town’s Riverside Stadium, where more than a hundred business leaders, politicians and stakeholders gathered to hear more about the plans.

The strategy has been split into a number of key development areas including Middlehaven, Centre Square and a Media Innovation Village, as well as land around Teesside University and the railway station.

Within the areas, the plans outline proposals for a new student village, a refurbishment of the town hall, a new Police headquarters, and the already proposed £30m snow centre.

Paul Swinney of independent think tank Centre for Cities said Middlesbrough should be treated as a city when it comes to economic planning and development.

“The investment will create prosperity for the whole of the Tees Valley,” he said.

“The area is performing below the national average because Middlesbrough is not attracting jobs in the way it should be compared with places like Newcastle and Leeds.

“For the Tees Valley to attract high paid jobs – the jobs need to be in the so called city centre, and this investment will allow that to happen.”

Dave Budd, Middlesbrough Mayor, said the plans, which include 1.7 million sf ft of business space, would benefit the whole of the Tees Valley and around half of the jobs created would be “city centre” jobs

“We are on the verge of an important new era which will build on Middlesbrough’s rich heritage and drive us forward as a beacon of 21st century ambition and prosperity.

“We want to renew our ambition and create a vision for the town that built the world.”

Tony Parkinson, chief executive of Middlesbrough Council, said the investment will enhance the town as “the place to be for business, culture, leisure and housing”.

“We have got talented people, land available and the will to succeed.

“Even if we only complete 80 per cent of this, that will mean 4,000 new jobs for the town.

Mr Parkinson said work on the railway station will begin within three months, which could result in as many as seven trains a day to London by 2020.

“We have budgeted for this and everything is costed up until 2020 – and we want to keep investing beyond that.

Steve Gibson, chairman of Middlesbrough Football Club, said the plans were “very bold and brave”.

“Local authorities have been reserved in the past, but these plans mark a real change in culture.”