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Tees Valley Economy Briefing Colour Version



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As part of Tees Valley Unlimited’s role as Local Enterprise Partnership for the area we aim to provide you with a Tees Valley wide view of economic trends, business news stories and developments.

We have therefore put together the attached “Tees Valley Economic Briefing” which brings together up to date information about the Tees Valley economy. We have tried to present the information in a concise format which we hope will find is quick and easy to digest.

Tees Valley Economy Briefing Colour Version

  1. 1. Economic Briefing D AT E A p r i l 2 0 11 ISSUE 1 This Tees Valley Economic Briefing aims to provide a brief summary of activity in the Tees Valley economy for April 2011 including statistical trends and key announcements for the month. Summary Indicator Overview Data Direction The Tees Valley economy Reported jobs gains and losses Previous experienced a number of Quarter Little overall trend in job gains and positive developments in losses is evident, although there have March. These were both been more job gains than losses over the in terms of large-scale job last quarter. Any trend in job gains and 2010/ losses is often hidden by large individual 2011 creation, with the announcements, such as the SSI takeover completion of the deal of TCP in February creating 800 jobs. In by SSI to take over the addition, many of the job losses have come Source: Tees Valley Unlimited Tata steel manufacturing from the public sector, where although the plant in Redcar (creating losses have been announced many will actually take place over 4 years. 800, and safeguarding 700, jobs) and the location Previous of the Hitachi Trains Employment Quarter project at neighbouring Slight increase in Tees Valley's Employment Rate. The Tees Valley's Newton Aycliffe, as well employment rate fell steadily during the as announcements from recession, however this fall appears to 2009/ 2010 government. The latter have ceased. Employment rates in the saw the Centre for Tees Valley have broadly followed the national trend, whilst the North East's Process Innovation at employment rate appears to be increasing Wilton form part of the at a slightly faster rate. Source: Office for National Statistics new UK Technology Innovation Centre and the Unemployment Previous Tees Valley designated Quarter Claimant Count has begun to rise again. by the Chancellor as a After falling from the peak at the beginning location for the of 2010, unemployment has started to rise establishment of a new again in recent months, reaching the levels 2010/ 2011 Enterprise Zone to attract seen at January 2010. Unemployment in new jobs and businesses. Tees Valley remains higher than the North East as a whole and the gap between Tees In addition, a positive start Valley and the average for the whole of Source: Office for National Statistics to the year was had by Great Britain is increasing. Durham Tees Valley Airport, with figures out GVA Per Head 2000/ this month showing 2008 GVA per head increasing but still well passenger numbers up below national average. The Tees 24% in February Valley's GVA per head relative to the UK compared to a year earlier, fell markedly up to 2002. Whilst there has been some recovery, the Tees Valley is stil and work began on the below the North East as a whole and £300m housing and significantly below the UK level. regeneration scheme Source: Office for National Statistics & Tees Valley Unlimited NorthShore in Stockton. For further statistical information about the Tees Valley economy visit Reported job gains and losses are based upon announcements as reported in the press and are therefore not designed to be fully comprehensive.
  2. 2. Economic Briefing April 2011 - Issue 1 Summary cont.... Engineering & Manufacturing Air Products and SITA, as well as the plans of PYReco and SembCorp. In Over 550 jobs were March’s considerable job creation was addition, Biffa opened the UK’s first fully reported as created in largely built on companies in the integrated sorting and recycling facility for March across a number of engineering and manufacturing sectors mixed plastic packaging at Redcar in sectors, with the potential expanding and securing new contracts. March, creating 28 new jobs. Meanwhile, for over 100 more in Leaving aside SSI, the likes of Darlington offshore wind suppliers continue to prosper, ongoing renewable energy engine assemblers Cummins, Stockton with growth at subsea support specialists projects. Around 30 job car-parts manufacturer Nifco and Tekmar Group, who have a site in losses were announced Hartlepool oil and gas platform Darlington, and continued success at the from a handful of Tees manufacturers Heerema created the likes of JDR Cables in Hartlepool and MPI Valley firms this month, but majority of jobs this month with 120, 120 Offshore in neighboring Stokesley. possible losses could climb and 190 respectively. In addition, Radiola Darlington based consultants Eco further with over 300 Aerospace was a successful inward Environments are also looking to increase employees at investor, setting up in Stockton, and staff. Middlesbrough-based companies across Tees Valley were invited Redhall Engineering to register their interest in supplying the Group, Darlington's Four Newton Aycliffe-based Hitachi Trains Logistics Seasons Healthcare and project. 22 job losses were announced, PD Ports’ £29m expansion of their Teesside Power Station however, at drinks manufacturer Tetley in container terminal at Teesport, which aims at Wilton respectively Stockton and there is a threat to 200 jobs to increase container capacity from under threat of at Redhall Engineering Group in 235,000 TEU to 450,000 TEU which began redundancy. Regionally, Middlesbrough due to a contract dispute. in February, continues apace. according to Lloyds TSB’s Nationally, the CBI reported increased latest business index, the orders and growth expectations from North East economy grew manufacturers, while EEF reported Professional Services at its fastest pace in stronger confidence among engineering The professional services sector in the February for almost a year, firms in the North East driven by a rise in sub-region was relatively quiet in March, above the national export orders. although digital and creative companies average, driven primarily continue to prosper. A total of 25 jobs were by an increase in output and orders in the Oil & Gas created at digital firms Via Creative in Redcar. Thap and iBod in Middlesbrough, manufacturing industry. Alongside Heerema, who secured a tying into the expertise of Digital City in contract with Centrica to fabricate an Middlesbrough and the plans for The Hub Misc offshore oil and gas platform, AMEC won a in Redcar. In addition, Webworks in £32m contract to supply the Teesside Gas Darlington is creating a further 16 posts. A A Barclays Wealth study Processing Plant (TGPP) at Seal Sands, couple of contact centre businesses this this month reported that which will process natural gas from RWE’s month showed contrasting fortunes with the number of millionaires field in the North Sea. Meanwhile, due to a new start-up Call Agents UK employing a in the North East has drop in demand, Teesside Power Station further 30 people in Middlesbrough, while increased by 17% over the is being partially mothballed with 100 jobs Darlington’s Infoserve are losing 10 staff past 2 years, the fastest at International Power looking uncertain. as a result of declining profits. With the growth outside of the likes of law firm Dickinson Dees reporting South East, and is increased volumes of work, such positive predicted to be the fastest Renewable Energy findings contrast with national data gainer between now and Two potential waste-to-energy projects suggesting a slowdown in growth in the 2020. The North East announced their intention to set up in Tees service sector. does, however, remain Valley this month, including Earthly bottom of the English Energy’s project to turn food and garden regional league table for waste into biogas, creating 84 permanent millionaires. jobs. This builds on the positive momentum built up sub-regionally over recent months with the expansion of the likes of Ineos Bio, Cavendish House Tel: 01642 524400 Teesdale Business Park E-mail: Stockton-on-Tees Web: Tees Valley TS17 6QY