TEES Valley Unlimited has become the first Local Enterprise Partnership to sign an investment pact with UK Trade and Investment.
In a clear nod to the LEP’s success and strategy, the MoU recognises Tees Valley Unlimited as the lead contact for co-ordinating inward investment across the region.
Neil Kenley, TVU’s Director of Business Investment, said: “Together, UKTI’s Inward Investment Service and TVU will look to ensure greater foreign direct investment by better utilising existing knowledge of local assets and capabilities. The partnership will optimise the use of collective resources such as sector intelligence and market need to build upon the existing offer to location consultants and potential investors across the globe.
“TVU has a proven track record in providing the introduction, detail and continued support to instill confidence and secure inward investment across Tees Valley.”
Announced just weeks after the Government rubber stamped the Tees Valley Enterprise Zone, officials say the relationship offers a new way of working that will direct international projects towards the UK and promote Tees Valley’s key resources and financial incentives to those seeking a potential business base.
Martin Phelan, Director of Investment at UKTI, added: “Our team will work with Tees Valley Unlimited to develop the best inward investment propositions and identify the projects for which Tees Valley presents a natural home.
“This MoU will be a vital part of improving the experience for companies wishing to invest in the UK.
“It will harness valuable private sector skills while at the same time further strengthen the important link with local communities and business.
“Foreign companies seeking to locate and grow their business in and from the UK will now have a clear point of entry.”