THOUSANDS of private sector jobs and millions of pounds of investment could come to the region if bids for Government funding are successful.

Tees Valley Unlimited (TVU), the area’s Local Enterprise Partnership, has confirmed it has submitted 20 bids to the Regional Growth Fund (RGF), asking for nearly £80m towards a host of schemes, which, if approved, could create an estimated 11,000 jobs.

However, TVU is battling regions across the country for a slice of the fund designed to encourage enterprise and create jobs in areas of deprivation.

Sir Ian Wrigglesworth, deputy chairman of the £1.4bn RGF and Port of Tyne chairman, said regions expecting a cash handout could be set for disappointment.

Only the strongest bids that generate sustainable private sector jobs, in areas relying heavily on the public sector will be considered for funding, he said.

Sir Ian added: “A lot of people think we’re Father Christmas, but it will be more like Scrooge”

Nine of the 20 bids put forward from the North-East are from companies in the private sector which, collectively, have plans to invest more than £820m in the next three years, creating 1,650 jobs and safeguarding 850 more.

The remaining 11 involve a combination of public and private sector support and cover housing, transport and mixed-use regeneration.

Among the schemes submitted via TVU are:

• A private/public sector partnership bid of £5.7m for mixed use developments that could create 6,516 jobs and safeguard a further 1,216;

• A bid for £9.05m to begin construction of a Metro-style light railway across the Tees Valley;

• A major house building programme resulting in the creation of 2,100 jobs and 32 safeguarded. A total of £28.9m is requested from the RGF;

• A bid from the process and heavy industry sectors to encourage investment of £200m to create 1,100 jobs and safeguard 850;

• Four green energy and recycling firms which intend to invest more than £630m in low carbon projects, creating 200 jobs;

• Two firms from the manufacturing and service sectors with an £18m investment plan to create 330 jobs.

The bids will be assessed by the Independent Advisory Panel, headed by former Tory minister Lord Heseltine. Once the panel has looked at the bids, they will advise a panel of ministers chaired by Deputy Prime Minister Nick Clegg.

Earlier this week, Mr Clegg threw his weight behind The Northern Echo’s Fighting Back series, which aims to showcase the North-East businesses that are helping to lead the region’s recovery.

Stephen Catchpole, managing director of TVU, said: “This is a competitive process, but we are confident that we have submitted some wellthought- out proposals which can drive real change in this region. In my mind they tick all of the boxes in terms of what the RGF is all about – but the final decision rests with the panel.

“The fact that private firms have put forward such exciting proposals shows that business has faith in this region and wants to help shape its future development.

“I’m encouraged that there have been a number of collaborative bids by the public and private sector. Joint working is one of our main priorities and something we see as vital to the growth of this area’s economy.”

Successful bids will be announcement in the spring.