Split into Teesworks West and Teesworks East, this tax and customs area covers a combined total of almost 1,000 acres, with the wider development making it Europe’s largest brownfield site.
Since 2015, more than £200million has been invested to prepare this multi-sector setting for diverse, sustainable and low-carbon activity. Teesworks West is recognised by BEIS as a Centre for Offshore Renewable Engineering (CORE). Providing immediate access to the River Tees and the North Sea via the new and dedicated South Bank Quay, the zone is perfectly placed for the provision of offshore wind manufacturing, which directly aligns with the Government’s target to enhance the UK’s supply chain.
Teesworks East, which includes Redcar Bulk Terminal, links Teesworks West and Wilton International, making it suitable for additional offshore wind activity as well as bulk chemicals manufacturing. With separate riverfront access, this area focuses on the development of further value adding functions in relation to bulk chemicals and supporting the materials processing needs of the offshore wind sector.
The Teesworks site is already home to a range of industry leaders and sustainable pioneers, including Anglo American, British Steel, MGT Teesside, Northumbria Water, PD Ports, Redcar Bulk Terminal and GE Renewable Energy. An emphasis on modern manufacturing alongside renewable activity and the clean energy sector make this a powerful and resilient industrial cluster that’s at the centre of a high-value, low-carbon circular economy.
Tax zones offer incentives to businesses such as no stamp duty, full business rates relief for up to ten years and enhanced allowances for construction and machinery investment.
Businesses within customs zones will receive a range of tariff benefits, including duty deferral while the goods remain on-site and suspended import VAT on goods entering the customs zone.