OUR PROGRESS
In 2015 the Redcar steelworks closed , ending 170 years of steelmaking on Teesside and resulting in 3,000 people losing their jobs . It had a devastating impact on local communities and left a derelict steelworks . The closure was costing the taxpayer £ 20million per year , and the taxpayer had lost approximately £ 10million per year in business rates , which goes towards the provision of vital local services . Following an independent evaluation , the site had an astronomical liability of £ 482million .
In 2020 , Teesworks was formed , a public / private sector partnership between the South Tees Development Corporation and local developers JC Musgrave and Northern Land Management .
Already Teesworks has attracted more than £ 2billion of investment from new occupiers and created more than 2,500 long-term jobs with a promise of so much more . 2023 will be a year of more progress , more private sector investment and more jobs .
We want you to judge us on our record of delivery , so we have created this live dashboard . This will update you on our journey as we look to transform the former Redcar steelworks into a world-class hotbed of low-carbon innovation , leading the UK in the clean energy sectors of the future .
To keep up to date with the latest dashboard figures , visit www . teesworks . co . uk / our-progress
Long-Term Jobs Created
Money To Taxpayers ( per year ) from 2026
Land Occupied
2 , 725 £ 31million 15 %
• Long term jobs created through confirmed investment
• This money returns to STDC and Redcar Council
• This money is made up of Business Rates and Investment Income
• The former steelworks returned approx . £ 10million to Redcar Council each year
• Total developable land available 1,630 acres
• SeAH Wind – 90acres
• Net Zero Teesside – 150acres
Investment Secured From Occupiers
Private Partner Funding
Public Sector Funding
£ 2billion £ 168million £ 246million
• SeAH Wind
• Net Zero Teesside
• Money committed by Teesworks ’ private partners so far
• Land remediation
• South Bank Quay
• Allocation fully committed for : – Demolition – Make-safe – Infrastructure – Remediation
TeesworksUK www . teesworks . co . uk
66 | Tees Business