Linda Edworthy Director of Strategy and Investment Tees Valley Unlimited The Northern Powerhouse and Devolution The Northern Powerhouse What is it? Almost two thirds don't know about the Northern Powerhouse 64% of adults in the North have never heard of it or know nothing about it 44% Never heard of it 20% Heard of but know nothing about it 30% Heard of and know a little about it 6% Heard of and know a lot about it Source: ComRes November 2015 So what is it? Brainchild of Chancellor George Osbourne Aims to bridge the economic gap between the North and the South By attracting investment and improving transport links between its towns and cities What is it doing? Trade Missions to China - September, February Tech North Transport Transport for the North One Agenda, One Economy, One North Funding in Autumn Statement Independent Economic Review: evidence for transport funding 16 March budget Northern Powerhouse Narrative Independent Economic Review 4 prime capabilities: Advanced manufacturing Energy Health innovation Digital Supported by 3 enabling capabilities: Financial and professional services Logistics education Relevance for Tees Valley? Route to transport funding TV Devo deal: River Tees crossing Darlington station remodelling Improved east-west road connectivity (A1 Teesport) Electrification Northallerton - Teesport Will it be anything more than transport and trade missions? ? Northern Powerhouse and Devolution What makes sense at NP level vs Devolution to local likely to increase in scope Tees Valley vision / strategy / investment priorities Tees Valley Strategic Economic Plan Changing economic circumstances Changing governance arrangements Combined Authority Devolution Deal Reviewing SEP publish refreshed SEP July 2016 Extensive engagement with partners Tees Valley SEP Review What does all this mean for the VCSE in Tees Valley? Role in Northern Powerhouse? Role in Devolution / SEP: Getting people back to work BBO / ESF Enterprise / social enterprise Supporting communities a great place to live, work and play Challenges for TV VSCE Scale of activities fewer, bigger Reduced public funding Financial viability Need for commercial approaches Thank you