Peter Snaith is a UK partner and head of manufacturing at international law firm Womble Bond Dickinson. Over the past 25 years, Peter has played an instrumental role in championing growth and investment in Teesside. Here, he reflects on the ever-changing landscape of the region, and how it can play a vital role in rebalancing the economy and helping UK industries thrive.

"I qualified as a solicitor in the early 90s and I left private practice to join ICI Legal Services, which was a team of in-house lawyers that looked after ICI's businesses here on Teesside, the North West and internationally across Europe and South Africa. That was a time when Charles Miller Smith was breaking up the group. Sadly for the company and for UK plc, this brought about the demise of what was once the bellwether of British industry.

"However, the sale process attracted many great international names to the UK and to our region like Huntsman and SABIC and also thriving UK companies like INEOS to invest on Teesside. Others have come and gone. Some businesses have changed hands countless times like the polyester plant that is now owned by Alpek and the biopharma business that now belongs to Fujifilm Diosynth, to name just a few.

"Despite the fragmentation of our local industry, the assets we boast on Teesside have mostly benefited at each change from significant investments. That being said, whilst the buying and selling of companies undoubtedly attracted new money, the 'breaking up of the chemistry' set created problems by hampering the ability of businesses to flex with the cyclical changes affecting upstream and downstream industries, enabling some to ride the highs whilst the fortunes of other parts of the group dipped before coming round again in the cycle.

"The fragmentation of Teesside has, to an extent, denied our region some of the key benefits which others proclaim to be their greatest strength. But we have an opportunity to connect our industries in new and sustainable ways, for example: through the use of blue and green hydrogen for feedstock and utilities; through the use of green energy from offshore wind; and through the capture storage and re-use of carbon dioxide. By connecting our industries as closely as we can, we can reduce emissions, waste and resource consumption, for example, through waste water and electricity savings as well as logistics and material handling, including by using pipelines instead of transport.

"In the 27 years of supporting industry on Teesside I have never known there to be as many enquiries from inward investors as there are currently. On our list of new projects there are 10-15 new plants or expansion projects, some of which are in the public domain whilst others will remain confidential for some time. Many of them are linked with energy and renewables and several will supply into our existing businesses. There is a genuine societal shift towards sustainability and clean growth and the businesses moving into Teesside today can help the UK to achieve its net zero commitments.        

"We all have a role to play in connecting our industries with the resources and support they need to enhance their productivity and sustainability, to enable them to compete on the world stage.   

"Understanding our region, its legacy and its unique combination of world leading assets and infrastructure is vital to helping our existing industries thrive and also to help attract and secure the next wave of inward investment.

"We are home to some highly resilient businesses on Teesside. They have continued to reinvent themselves from one decade to the next, researching and developing new products, de-bottlenecking to enhance performance and in recent years embracing sustainable processes and developing the circular economy.

"The UK struggles to appreciate just how valuable industry here is to the national economy. The position has improved through the efforts of the Mayor and our many proud local stakeholders, putting us firmly on the map."