Ministers to set up first Mayoral Development Corporation outside London
The Government is to set up the first Mayoral Development Corporation (MDC) outside London, to transform a former steelworks site in the Tees Valley.
The Department for Communities and Local Government said work would start immediately to form the corporation, which will cover the SSI site that closed in October 2015.
The potential for such a body – which will adopt a similar model to the London Legacy Development Corporation that covers the Olympic site – was recognised in the recently-concluded devolution deal for the area.
The DCLG said an advisory board would be established to provide leadership and direction to the MDC for the regeneration of sites across Tees Valley. Ministers will work with local partners to appoint members for the board.
Communities Secretary Greg Clark said: “The closure of the SSI site has been incredibly difficult for Redcar and the wider Tees Valley and we’re determined to continue our support for the local community.
“Already, up to £80m government funding is in place to ensure former SSI workers and local affected businesses get the support they need.
“This new Mayoral Development Corporation is the next step, putting local people who know the area best at the heart of driving regeneration and delivering new businesses and jobs for the community.”
Former Deputy Prime Minister Lord Heseltine, who is leading a taskforce for the area, said: “Key to the economic future of the Tees Valley will be the regeneration of sites and securing strong business investment to create jobs for the skilled workforce affected by SSI’s closure.
“Under dynamic leadership the new Mayoral Development Corporation will provide the strategic vision to make that happen and give investors from the UK and abroad the confidence to put down roots in the Tees Valley for years to come.”
Cllr Sue Jeffrey, Chair of the Tees Valley Shadow Combined Authority, said: “I welcome this agreement and confirmation that government is to take responsibility for the SSI site and establish an intermediate body to ensure safety and security in the short-term. But it is the long-term regeneration of the area that is my main focus.
“This announcement includes proposals to fast-track the Mayoral Development Corporation agreed in our devolution deal and this is a positive step forward. This can’t be just about new structures and boards – we will work with government to secure the necessary powers and funding to create a viable future for the area as a whole.”
