Middlesbrough Council is the local authority area where TeesAMP is based – and its main funder.
The council wants to attract manufacturing firms to help boost the economy and replace jobs lost in the collapse of the steel industry in the sub region.
TeesAMP will become an important contributor to the now growing local economy and is expected to add hundreds of millions.
Regeneration schemes worth more than £100 million are already taking place in Middlesbrough on top of investment of £464 million into regional infrastructure, jobs and education over the next three years.
The area is a digital powerhouse with one of the fastest growing digital clusters in the country supporting 7,000 jobs and making a contribution of £211 million to the local economy.
Ongoing investment will also see 98 per cent of the area serviced by superfast broadband by the end of 2018.