Redcar and Cleveland: a great place to invest

Picture palace - The new Regent cinema, complete with terrace bar cafe overlooking the sea.

This Is Tees Valley feature: When it comes to investment opportunities and a brilliant lifestyle, Redcar and Cleveland has it all, says Councillor Lynn Pallister, cabinet member for economic growth, Redcar and Cleveland Borough Council.

Redcar and Cleveland has so much to offer! We have Britain’s largest freeport and, in Teesworks, the UK’s largest and most connected industrial zone. We have huge investment opportunities that we’re inviting you to be part of, with more than £6bn worth of projects happening or in the pipeline.

We’re adaptable in Redcar and Cleveland. We’re proud of our industrial past and present, of iron ore mining, steelmaking and process manufacturing to name just some, and we’re excited about our new story and new future.

Redcar and Cleveland is also a major UK centre for clean energy – home to the world’s first net zero industrial cluster by 2040, the UK’s largest green and blue hydrogen projects and a premier offshore wind location.

A UNIQUE OPPORTUNITY

Mostly located in Redcar and Cleveland, Teesside Freeport is the UK’s best-connected freeport – immediately linked to the UK’s road and rail network, bringing key cities and regions within easy reach, and unlocking global markets, major trade hubs and offshore projects.

Building on existing manufacturing strengths, particularly in chemical and materials processing, biomanufacturing, offshore wind and renewable activity, Teesside Freeport will create more than 18,000 jobs and boost the local economy by billions in the next five years alone.

Covering over 4,500 acres, Teesworks is the UK’s largest and most connected industrial zone, a future home to diverse, sustainable and low-carbon activity. Offering connectivity to Teesport, the North Sea and global markets, it brings together global leaders and innovative pioneers to power Britain’s carbon capture capital.

Teesworks will be a nationally important offshore wind hub, with major projects taking shape. SeAH Wind is on site, building a monopile manufacturing facility – a £400m investment on a 90-acre site, creating 750 direct jobs and an estimated 1,500 jobs in the supply chain.

Also progressing is the Circular Fuels project. Permission has been granted for a ground-breaking waste-to-fuel plant creating 250 construction jobs and more than 50 skilled roles once operational. The £150m plant will produce up to 50,000 tonnes of fuel per year from 220,000 tonnes of non-recyclable household and industry waste.

Ground-breaking – A CGI image of Circular Fuels’ waste-to-fuels plant.

Teesworks will also be home to Net Zero Teesside, a carbon capture, usage and storage (CCUS) project being developed to decarbonise industrial emissions in the area. It involves the construction of a gas-fired power station (NZT Power) with carbon capture technology, and a carbon dioxide gathering network to enable low-carbon hydrogen production and power generation in the Teesside area.

Supporting these projects is a new £107m South Bank Quay, which will transform a 1km area along the River Tees, giving global firms direct access into 500 acres of development land, and thousands more across the wider Teesworks site.

Redcar and Cleveland is also home to the UK’s largest private wire electricity network. Wilton International is a 2,000-acre, multi-occupancy manufacturing site within Teesside Freeport – home to one of the UK’s leading process manufacturing clusters. For energy-intensive industrial businesses, Wilton International integrates ready-to-go energy, development land, infrastructure, utilities and security – minimising project costs, risk and timeframes.

The Wilton Centre is the premier science park in North-East England and provides office, laboratory and pilot plant accommodation. Adjacent to Wilton International and sitting in the heart of the North East of England Process Industry Cluster (NEPIC), it’s one of Europe’s largest R&D facilities and houses leading global and regional businesses in the chemical, manufacturing, material and life science industries.

OUR PLACE IN THE WORLD

So, where are we? We have the North Sea coast to the east, North Yorkshire and the North York Moors to the south, Middlesbrough to the west and the River Tees and Hartlepool to the north – and we’re within an hour of places such as Newcastle, Durham, York and Leeds.

On the logistics theme, Redcar and Cleveland is home to Teesport, the fifth largest port in the UK and among the 10 biggest in western Europe. A major deep sea maritime complex, Teesport, managed by PD Ports, contributes more than £1.4bn to the UK economy each year, and supports 22,000 jobs. Teesport plays a critical role facilitating the nation’s trade, moving over 28m tonnes of cargo annually.

DEVELOPING OUR PLACE

Aside from large-scale projects, there’s more than £100m of investment in new place projects across Redcar and Cleveland, designed to improve the leisure offer for residents and visitors, and the lives and wellbeing of future local employees.

Game changers – Construction of South Bank Quay (foreground) and SeAH Wind factory site (background) at Teesside Freeport.

NEW PROJECTS INCLUDE:

• The Regent – £9.6m Redcar seafront cinema with café overlooking the sea.• Kirkleatham Walled Garden – gardens, café and events space.• Land of Iron – redeveloped and expanded heritage attraction at Skinningrove.• Coatham hotel – plans approved for new 40-bed hotel and restaurant at Redcar.• Loftus Future High Street – £11m masterplan of projects transforming Loftus high street.• Greater Eston – £20m funding for projects including a new swimming pool and redevelopment of Eston Precinct.• Guisborough – £15.2m funding for projects including town centre regeneration and improvements to Guisborough Forest and Walkway Visitor Centre.• Redcar Town Deal – £25m funding for transformational Redcar projects, including recent completions:

Clean Energy Education Hub – £3.2m facility at Redcar & Cleveland College, to train young people for careers in clean energy projects.
Rediscover Redcar – Town Centre Management office – supporting businesses, improving the town centre, and information hub for Redcar Town Deal programme.
And what a place this is to live in, with miles of beautiful coastline to enjoy and gorgeous countryside to explore.

Redcar and Cleveland offers you the place and space to breathe. When it comes to spending your free time, we have lots to offer – engaging culture, amazing attractions and exciting events. For example, British Cycling held two National Road Championship events in Redcar and Cleveland in June, and Between the Tides, a new family festival in August.

Living in Redcar and Cleveland also offers you relatively low house prices, the coastal lifestyle and access to excellent education.

We hope you’ll join us in our exciting future!

For investment support and related information, contact [email protected]^[1]

Editorial from the content of This Is Tees Valley 2023-24, an annual publication from the creators of Tees Business, circulated to the movers and shakers, investors and decision makers across the UK, shouting loud and proud about what makes our region the perfect place to live, work, invest and do business.

Click here ^[2] to see the full issue of This Is Tees Valley 2023-24.

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References

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