ALMOST £24M has been signed off as part of plans to create 4,000 new jobs at a new logistics and manufacturing park at Teesside International Airport.
On Friday, the Tees Valley Mayor said the funding had been signed off to further support the £200m development that will be built on the southside of the airport.
Earlier this week, the office of the Tees Valley Mayor confirmed 3.4 million square feet of logistic, manufacturing and commercial space, would take shape on the 270-acres of land set aside.
Mayor Ben Houchen said: "This investment is a major step forward for our airport - I’ve always said our airport isn’t just about holiday flights, for our airport to be truly successful and sustainable appropriate development around the airport site would be needed.
“Not only does this investment unlock £200m in private sector development it will also lead to the creation of thousands of good-quality well-paid jobs for local people."
Around £23.6m has been signed off for the creation of critical infrastructure, which is hoped will enable wider development, including connections to main utilities and access to the southside of the airport from the A67.
Mr Houchen said: “Once up and running, this new logistics and manufacturing park will see £3m from the development reinvested back into our airport to make sure it is safe for the long term.
"All money made from this development will be put back into the airport to help it grow and attract new flights and not a single house will be built.
“Teesside International is a major economic driver and job creator and since bringing our airport back into public ownership and saving it from closure a huge number of businesses have already approached us wanting to setup at the airport.
"This development will provide the high-quality facilities they need to thrive and boost our economy.
“Make no mistake, Teesside is on the up and this is another huge boost for our airport just before Christmas in what has been a brilliant year where so much progress has been made."