Ambitious masterplan for Middlesbrough

The plan, to make the town the “city heart” of the Tees Valley region, was outlined by mayor Dave Budd and interim chief executive Tony Parkinson as they unveiled the town’s first ever “investment prospectus”.

In it plans to attract the funding – some of which has already been secured – are outlined as well as the creation of about 5,000 new jobs.

The vision outlines the transformation of more than 57 hectares of land, developing 1.7m sq ft of new business accommodation.

The town’s growing population – another key element in securing Middlesbrough’s long-term financial future – will be drawn to more than 5,500 modern family homes to be built across the borough.

The Investment Prospectus builds on recent successes, including more than £500 million of committed investments, and charts a course for the next phase in Middlesbrough’s journey.

The plans are also underpinned by the recent confirmation of the Council’s first ever four-year Local Government Finance Settlement, which gives the authority greater certainty over its finances and strengthens its ability to plan both for efficiencies and for investment.

The strategy is also closely linked to the Mayor’s Vision for Middlesbrough 2025 which outlines aspirations for a ‘Fairer, Safer and Stronger’ town.

The Investment Prospectus identifies key areas which have vital role to play in Middlesbrough’s future including the university quarter, Middlehaven, the Railway Station and “historic quarter” and plans for a Salford Quays-style media and innovation village.

Mr Budd said: “These are still tough economic times, and the Council and the town as a whole have felt the impact of savage budget cuts.

“But the period of austerity has only strengthened our resolve to ensure Middlesbrough continues to look to the future with considerable confidence. These are the realistic and deliverable transformations – many of them already well in train – that will underpin Middlesbrough’s long-term future.”