Vince Cable visits Teesside to announce low carbon investment
August 6, 2010 2:00 PM
Dr Cable the Secretary of State for Business Innovation and Skills today announced on his visit to Corus in Redcar that the Government would invest £4.6 million in funding into the Tees Valley Industrial Programme (TVIP) for 14 projects in the region. Of this, £1.3 million will help develop Carbon Capture and Storage (CCS) in the North East. It's thought the 30 million spent by the programme so far should create 1,700 jobs.
Dr Cable said:
"Continued investment in the North East is extremely important as we rebalance our regional economies, but this needs to be the right kind of support. It's vital that any grants will garner real benefits for businesses and communities by growing local economies and skills.
"That's why I am delighted to announce this funding, especially for Carbon Capture and Storage, which the North East is well placed to capitalise on. These projects will create a wealth of opportunities for local businesses and create new highly-skilled jobs."
When visiting Corus, Dr Cable welcomed news the company is extending its skills and training scheme for workers at risk of redundancy.
The Government has also agreed to provide £300,000 to support this further training as part of a package under TVIP to help equip employees with new skills.
Ian commenting on the visit said: "It's terrific Vince has come back to visit the area, it's important that he understands the local economy, so that the area is a key part of driving the national recovery. Vince spoke of his meeting with Ratan Tata and the Indian PM about Corus, and confirmed his desire to see a quick resolution with regards to the sale of TCP, I was pleased at the announcements of the new projects as part of the TVIP, meaning Teesside will be a centre for new investment in green technology"
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