HAVING recently attended two days at The Tall Ships Festival in Hartlepool, I would like to congratulate PD Ports and Hartlepool Borough Council for their efforts over the past four years in making this four-day event such a great success for Hartlepool, the sub-region and the region.

The odd downpour could not dampen the spirits of the one million visitors who came to the area to see the ships.

Now, we as a region, having also hosted the event at Newcastle in 2005, must look to build on the momentum that this has given us on the national and international stage.

It is also easy to forget, with all the talk of doom and gloom in advance of the comprehensive spending review that is due in October, that some businesses are expanding.

CTC Marine has won a £26m contract, former Biofuels Corporation is reopening, TAS Engineering Consultants plan to create 25 jobs, and PD Ports plans to invest £29m to double its container turnover capacity and create 50 direct jobs.

Furthermore, to assist the Tees Valley economy, the second tranche of the Tees Valley Industrial Programme money has now been earmarked.

The first £31m has resulted in the creation of a 1,700 full-time jobs, safeguarded nearly 1,200 jobs, acted as a catalyst for £230m of business investment and helped to create nearly 700 new businesses.

While this money is being invested, we also continue to watch with interest the development of Teesside Cast Products given the recent visit by Vince Cable, Secretary of State, for Business Innovations and Skills.

In business and politics, the turbulence continues but the Tall Ships proved that for some, blowy conditions simply mean more wind in the sails.

■ Chris Beaumont is North East Chamber of Commerce Tees Valley Committee chairman and partner at Clive Owen and Co LLP.