THE strong performance by Tees Valley Unlimited, the Local Enterprise Partnership, has been praised by Northern Powerhouse Minister James Wharton.

His endorsement of TVU’s work during the past 12 months came as the LEP released its annual report, which has also been backed by the region’s top business leaders.

Mr Wharton said: “Our local economy is showing real signs of recovery. Unemployment is falling, investment is up and the Tees Valley LEP has played its part in securing those positive trends. We should be proud of our progress, but never complacent about our future.”

Sandy Anderson, TVU chairman, said its success was due in no small part to very effective partnership working.

"While much has been achieved, it is important that we continue to build on our acknowledged strengths in manufacturing and engineering and to take the opportunities to grow and diversify the area’s industrial and wider business sectors," he said.

The annual report for April 2014 to March 2015 showed that 3,836 jobs were secured, there was £702m supported investment, and the Tees Valley Jobs and Skills Investment Scheme helped more than 300 companies, leading to the creation of 755 jobs.

Construction started on the £38m National Biologics Manufacturing Centre, and the £9.5m Material Processing Institute, which is expected to provide £191m increased GVA to the Tees Valley economy during the next 20 years, was established.

The Business Compass Growth Hub was launched; Teesside Collective helped the area take a world lead on Industrial Carbon Capture and Storage; and there was a £189m growth in GVA.

During the period, TUV also responded to more than 30 Government and Parliamentary consultations and successfully applied to join the Key Cities group.

Alison Thain, North-East chair of the CBI, said: “The annual report is testament to how, by collaborating with a range of organisations, Tees Valley is driving growth, attracting new companies, generating employment, improving the area’s infrastructure for the good of business and helping improve the skills of existing and future generations of workers.”

Mike Matthews, president of the North East Chamber of Commerce, said: “TVU has a strong track record of working in partnership with both the private and public sectors, which is what business wants to see. Its achievements during the last year stand the area in good stead as more powers are moved away from London to the regions.”

Graham Robb, North-East Chairman of the Institute of Directors, said: “TVU was one of the first LEPs to be established, and this annual report demonstrates how it is maintaining its momentum and making a tangible, positive impact on the area’s economy."

The annual report will be available at the Tees Valley Business Summit on Wednesday in the Olympia Building at Teesside University or at teesvalleyunlimited.gov.uk.