Investment plans worth £700m formally unveiled for Middlesbrough regeneration

A strategy that would transform the landscape of Middlesbrough in a series of multi-million pound developments has been drawn up to be formally launched by the town’s council and elected mayor.

• £700million investment will give town a 'city context'

Developments featured within an “Investment Prospectus” plan include a £30m snow centre, a 450-bed student village linked to Teesside University, and a Media and Innovation Village.

Private and public sector investments are also set to transform more than 140 acres of land to develop an estimated 1.7 million sq ft of new business accommodation and town centre office space.

A conference hosted in the Riverside Stadium this morning will officially unveil the long-term strategy with Middlesbrough Council chief executive Tony Parkinson and the Mayor of Middlesbrough Dave Budd being joined by Middlesbrough Football Club chairman, Steve Gibson.

Speaking ahead of the launch, Mr Parkinson said: “This authority has a proven track record as a forward-thinking, strategic leader for the area, and that is already giving major investors the confidence that they will find the support they need to thrive and grow their businesses in a vibrant city environment.

“Middlesbrough is well and truly open for business, and we and our partners are looking the future with considerable confidence and optimism.”

Middlesbrough Council has committed to injecting more than £74m into the town’s investment plan.

Mayor Budd said: “Middlesbrough has embarked on an important new era which will draw on its rich heritage and drive it forward as a beacon of 21st Century ambition and prosperity.

“This Investment Prospectus clearly lays out the priorities which will enable us to become a major destination for visitors and investors alike.

“Over the coming months and years, we will attract cutting edge enterprise, accelerate forward-thinking regeneration and deliver the services a modern city demands.”