Why should you invest in Teesside?

There are a number of reasons to invest in Teesside, but it can be argued that the main one is due to the fact that the Tees Valley in general was one of the first places to be given Freeport status. The Teesside Freeport is the largest in the country, which is remarkable in itself, and it was created with a view to producing 18,000 employment opportunities via a £3.2billion investment in the local economy over a 5-year period.

So, what does this mean for an investor?

Wide package of tax reliefs and tax incentives

More investment opportunities

Simplified customs procedures, which reduces administrative burdens

Duty suspension on goods, which means there is a wider scope for a higher return on investments

Further infrastructure investments

£23.6million was recently invested into Teesside Airport, which unlocked a further private sector investment of £200million creating significant additional opportunities:

Property development
Logistics & manufacturing Space
Inward Investment
Commercial Development Opportunities
Access to a multimillion-pound freight cargo facility
Creation of jobs, therefore much more likely to make a healthy return on investment

Intrigue for investors

Furthermore, there is added intrigue for investors to spend their money in financially and aesthetically appealing locations with a further pledge from the government in the Darlington and Teesside train stations. Both of these sites will be hugely transformed with £105million and £34million investments, respectively. When the government itself is heavily investing in Teesside and levelling up the playing field for the North, it shows that this is a prime location for other investors to come in and thrive in a field of unlocked potential. The evidence of this is typified by the fact that Darlington has become the first major presence for the Treasury outside of Whitehall.