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Understanding the Northern Powerhouse: Maximizing Opportunities for Tees Valley

Learn about the Northern Powerhouse initiative and its impact on Tees Valley's economy. Discover the potential opportunities and challenges for the local VCSE sector in this dynamic environment.

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Understanding the Northern Powerhouse: Maximizing Opportunities for Tees Valley

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  1. Linda Edworthy Director of Strategy and Investment Tees Valley Unlimited The Northern Powerhouse and Devolution

  2. The Northern Powerhouse – What is it? • Almost two thirds don't know about the Northern Powerhouse • 64% of adults in the North have never heard of it or know nothing about it • 44% Never heard of it • 20% Heard of but know nothing about it • 30% Heard of and know a little about it • 6% Heard of and know a lot about it Source: ComRes November 2015

  3. So what is it? • Brainchild of Chancellor George Osbourne • Aims to bridge the economic gap between the North and the South • By attracting investment and improving transport links between its towns and cities

  4. What is it doing? • Trade Missions to China - September, February… • Tech North • Transport – Transport for the North • One Agenda, One Economy, One North • Funding in Autumn Statement • Independent Economic Review: • evidence for transport funding – 16 March budget • Northern Powerhouse Narrative

  5. Independent Economic Review • 4 ‘prime’ capabilities: • Advanced manufacturing • Energy • Health innovation • Digital • Supported by 3 enabling capabilities: • Financial and professional services • Logistics • education

  6. Relevance for Tees Valley? • Route to transport funding – TV Devo deal: • River Tees crossing • Darlington station remodelling • Improved east-west road connectivity (A1 – Teesport) • Electrification – Northallerton - Teesport

  7. Will it be anything more than transport and trade missions? ?

  8. Northern Powerhouse and Devolution • What makes sense at NP level v’s • Devolution to local – likely to increase in scope • Tees Valley vision / strategy / investment priorities

  9. Tees Valley Strategic Economic Plan

  10. Tees Valley SEP Review • Changing economic circumstances • Changing governance arrangements • Combined Authority • Devolution Deal • Reviewing SEP – publish refreshed SEP – July 2016 • Extensive engagement with partners

  11. What does all this mean for the VCSE in Tees Valley? • Role in Northern Powerhouse? • Role in Devolution / SEP: • Getting people back to work – BBO / ESF • Enterprise / social enterprise • Supporting communities – a great place to live, work and play

  12. Challenges for TV VSCE • Scale of activities – fewer, bigger • Reduced public funding • Financial viability • Need for commercial approaches

  13. Thank you

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