Teesside's City Deal bid will be presented to Government later today.
Plans will be submitted by local enterprise partnership Tees Valley Unlimited (TVU) in a presentation to Minister for Cities, Greg Clark.
The area is one of 20 attempting to secure City Deal status, which would unlock millions of pounds in regeneration cash for the area and boost job creation.
Gaining City Deal status would devolve more decision-making powers from Whitehall. It has been claimed 22,000 jobs could be safeguarded or created.
The City Deal will also complement additional Government incentives which TVU is leading on, including securing money via the European Structural Funds and Local Growth Fund.
A City Deal does not make Teesside a city, but importantly it puts the area alongside the likes of Leeds and Manchester when working with Government to help shape the policy decisions that will affect the area.
Stephen Catchpole, managing director of TVU, said: “City Deal creates a direct and long-term relationship with Government and key departments, we look forward to presenting our bid to the panel.”
TVU will present the Tees Valley City Deal at a Government “challenge session”.
TVU says it will show how Teesside and Government can work together to attract new investment to the area, build better transport links, train the area’s workforce and create more jobs.