March 16th 2017
2020 vision for Middlesbrough
Middlesbrough Council has unveiled its Investment Prospectus this week, aimed at creating new jobs and boosting the town’s future prosperity, says chief executive Tony Parkinson
Building on its rich history and heritage, Middlesbrough has the pedigree to compete with towns and cities both in the UK and further afield.
We’re already recognised as the vibrant city heart of the Tees Valley, and a major destination for visitors and investors alike.
Our ambitions for the coming years are bold and far-reaching, but they’re achievable – and they will fulfil Middlesbrough’s destiny as a beacon of 21st Century enterprise and prosperity.
Realising such an ambitious strategy will rely on our ability to attract and support cutting edge enterprise, foster forward-thinking development and deliver the services a modern city demands.
In common with other areas once synonymous with heavy industry, Middlesbrough has suffered a long-term decline and that has severely impacted both the town’s finances and the size of its population.
But we won’t be defined either by the past or by austerity, and over the last few years we’ve already shown that Middlesbrough is a town where businesses can invest and grown with confidence.
That’s why the time is now right to roll out the sort of dramatic and ambitious plans that will further transform Middlesbrough via investments totalling almost £700m.
Over the next four years, Middlesbrough Council will invest £74m into a series of exciting developments, and we expect to see the private sector play its part in what we are confident will be a major success story.
Middlesbrough’s Investment Prospectus, which will look to create 5,000 new jobs in the town, will see the council target more than £600m of investment from the private sector and other parts of the public sector by 2020.
The series of developments include a £30m snow centre at Middlehaven, 450-bed student village linked to Teesside University, a new Media and Innovation Village, Grade A town centre office space and 5,500 new homes.
The Investment Prospectus outlines some of the initiatives that will be taking place throughout 2017 and beyond, enhancing the fabric of the town and our economic status, and creating jobs and wealth opportunities for the people who live here.
The plans represent the next wave of investment on top of that half a billion pounds already spent, some of which was council money and some of which we facilitated through private investors.
Those funds have already created a series of new housing developments, the state-of-the-art Middlesbrough Sports Village, the £10.8m Teesside Advanced Manufacturing Park, hotel developments, enhancements to Teesside University and Middlesbrough College including the STEM Centre, and the hugely successful Baker and Bedford Street regeneration zone.
Acklam Hall, the town’s only Grade l listed building and a 17th Century architectural gem, has been rescued from dilapidation and given new life as a stunning venue for weddings, fine dining, prestigious office accommodation and conference facilities.
Closer to the town centre the council has worked closely with developer Ashall’s to bring back into use a significant part of the Cleveland Centre shopping complex with the creation of a new Holiday Inn Express.
The hotel is surpassing expectations, with work on an extension well under way, and new businesses gravitating to the burgeoning town centre in ever growing numbers.
The Investment Prospectus also identifies a number of key areas which will play a vital role in Middlesbrough’s future including the major regeneration site of Middlehaven, the University Quarter, the town centre and Centre Square and the railway station/historic quarter district.
In tandem with this, Middlesbrough Council will act as catalyst to attract business, enterprise and jobs to the town, while further fostering growth and prosperity by extending and improving our housing offer.
New regeneration will transform more than 57 hectares of land, with the development of an estimated 1.7 million sq ft of new business accommodation.
The town’s growing population – another key element in securing Middlesbrough’s long-term financial future – will be drawn to more than 5,500 modern family homes to be built across the borough.
Middlesbrough is very much open for business, and together with our many partners we are looking to the future with considerable confidence.
- To find out more about Middlesbrough’s Investment Strategy and 2020 Vision, visit investmiddlesbrough.co.uk or email invest@middlesbrough.gov.uk