(Image: Supplied)
A new strategy has been launched to attract international investment and create jobs, skills and economic growth across the Tees Valley over the next five years.
The Tees Valley Inward Investment Strategy, covering 2026 to 2031, targets high-value investment from promising countries, regions and industries worldwide.
It focuses on chemicals and processing, clean energy, life sciences and biomanufacturing, advanced manufacturing, and digital and creative industries.
Ben Houchen, Tees Valley Mayor, said: "We have never been short of ambition – but ambition only matters if it turns into jobs, investment and real opportunities for local people.
Fujifilm, Billingham (Image: Supplied)
"This strategy is about being sharper, bolder and more focused in the way we sell our region’s strength to the world.
"We know the industries where we are strong, we know the countries and regions where the biggest opportunities sit, and we know what investors need to make major projects happen.
"Our 10-year Local Growth Plan sets out the future we want: more good jobs, better skills and education, stronger businesses and more money coming into the region.
"Winning investment from the right global markets is absolutely central to delivering this – and this plan sets out what we’ll be doing to get this done."
Approved by the Tees Valley mayor and cabinet, the strategy identifies priority markets across Europe, the Middle East, the Far East, the US and Canada.
It is a key part of the recently agreed 10-year Local Growth Plan, which aims to deliver growth, better skills and education, and more good jobs across the Tees Valley’s five boroughs.
In the Middle East, it targets Saudi Arabia, Qatar and the United Arab Emirates for investment in chemicals, sustainable aviation fuel, hydrogen and infrastructure, including sovereign wealth funds.
Germany, France, Belgium, the Netherlands, Norway and Denmark are priority European markets because they share strengths in advanced manufacturing, carbon capture and storage, offshore wind, chemicals, sustainable aviation fuel, space and biomanufacturing.
In the Far East, Japan, South Korea and China are key markets for offshore wind, clean energy, advanced manufacturing, digital technologies, critical minerals, batteries, life sciences and biomanufacturing.
In North America, the strategy targets California, North Carolina, South Carolina, Texas, Washington, Alberta and British Columbia.
These regions match Tees Valley’s ambitions in digital and AI, data centres, advanced manufacturing, clean energy including civil nuclear, defence and aerospace, life sciences, critical minerals and space.
The strategy builds on Tees Valley’s strengths, including industrial sites, ports, utilities, research centres, development land and supply chains.
It will help partners present a united offer to global investors, pursue new leads and coordinate work on infrastructure, sites, skills, innovation and finance.
The goal is to create good jobs, grow local supply chains, support training and apprenticeships, and strengthen the regional economy.
Cllr Alec Brown, TVCA Cabinet Member for Inward Investment and Tourism, said: "Investors do not choose places by accident.
"They choose places clear about their strengths, confident in their offer and ready to move quickly.
"Tees Valley has world-class assets in chemical, clean energy, advanced manufacturing, digital and biomanufacturing sectors.
"By matching our strengths with targeted work in Europe, the Middle East, the Far East, the United States and Canada, we can bring more investment into our towns, help local firms win more work and create the skilled jobs our people deserve."
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Tees Valley has attracted £5.5 billion in overseas investment to date.
Leaders hope the strategy will secure major global projects by selling the region’s strengths to investors worldwide.