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The government has provided capital to seven new projects under the latest phase of the Regional Growth Fund (RGF), resulting in the creation of two new waste energy facilities.
Later today (6th December), deputy Prime Minister Nick Clegg will announce the details of the recent £1 billion boost to the RGF, which is due to create half a million jobs.
A proportion of the new funding will be allocated to build the new Tees Valley Waste Management Plant, which will have a capacity of 50,000 tonnes per annum, as well as an anaerobic digestion manufacturing plant in Teesside.
Mr Clegg said: "With this targeted support for companies we're unlocking private sector investment, with at least £5 put in for every £1 of public money.
"The first pots of Regional Growth Funding money are already jump starting growth and creating jobs across the country - helping to rebalance our economy so that every region and sector benefits."
Mr Clegg is also set to confirm that there will be a further two bidding rounds for RGF cash, with cities encouraged to put forward innovative programmes and packages of projects.
Launched in October 2010, the RGF has allocated £1.4 billion through two bidding rounds.
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