THE man leading the Tees Valley Local Enterprise Partnership (LEP) has denied suggestions the organisation will be too weak to lead regeneration, and said it can draw on the power of the region’s world-class industries to punch above its weight.

Stephen Catchpole, managing director of Tees Valley Unlimited (TVU), which will change its name to Tees Valley LEP in the new year, said the area had the combination of new and traditional industries to make it “one of the success stories of the UK economy”.

Mr Catchpole pointed to the Tees Valley’s established expertise in processing and manufacturing, alongside buoyant renewable energy and new technology sectors, as signs that it is well-placed to flourish over the next decade.

He called on the Government to back his efforts to rebalance the local economy, and said the region can become a template for how the UK can shift from its high dependency on public sector funding towards greater selfsufficiency.

Mr Catchpole is determined to stimulate private enterprise, growth and create jobs in spite of his organisation operating with a budget that has been slashed from £9m to £2m, and about two-thirds of its workforce expected to lose their jobs.

He said: “I refute any suggestion that Tees Valley LEP is toothless or does not have sufficient money to make a real impact. Clearly, it’s nice to have a huge pot of money to draw on, but to accuse this LEP of being too small completely misses the point.

“We cover a relatively small geographic area, but the credibility of the Tees Valley is based upon the world-class businesses that we have here, and the quality of our workforce.

It will not happen overnight, but we have all of the raw material needed.”

The Tees Valley LEP will be responsible for managing issues including inward investment, transport and planning across Darlington, Hartlepool, Stockton, Middlesbrough and Redcar and Cleveland. It will replace some of the work done by regional development agency One North East when it is phased out in 2012.

The first test of the LEP’s effectiveness will come next month when bidding starts for a share of the £1.4bn Regional Growth Fund.

Mr Catchpole is hopeful of securing a significant slice of the funding, but he said that the days when the region’s success relied heavily on state support is a relic of the past.

“We are living in a new world, there are no big pots of money to throw around. If companies are going to come here and invest in the region, then it must be for sound business reasons, not because they are being given a financial incentive to relocate.”

■ The board members of Tees Valley LEP are: chairman Sandy Anderson; Middlesbrough Mayor Ray Mallon; Hartlepool Mayor Stuart Drummond; leader of Stockton Borough Council Ken Lupton; leader of Redcar and Cleveland Borough Council George Dunning; leader of Darlington Borough Council John Williams; chief executive of Business and Enterprise North-East Alastair MacColl; Teesside University Professor Graham Henderson; SABIC UK president Paul Booth; chief executive of Fabrick Housing Alison Thain; group development director of PD Ports Martyn Pellew.