Tees Valley Unlimited, the Local Enterprise Partnership for Tees Valley, secured £6m from the Regional Growth Fund to deliver the 18-month long initiative.
The Tees Valley Jobs and Skills Investment Scheme offered businesses a subsidy of up to 50% of the first year’s wages of an additional trainee, apprentice or graduate of any age.
The milestone appointment was landed by Thomas Pell, who was one of three to be taken on by the Hartlepool-based recycling specialist, J&B Recycling, which employs almost 200 people.
Vikki Jackson-Smith, Managing Director at J&B Recycling, said: “We are pleased to welcome Thomas to our team, and are delighted with the fact his appointment helps the Jobs and Skills Investment Scheme reach such an important milestone for Tees Valley Unlimited.”
Linda Edworthy, TVU Director of Strategy and Investment, said: “Tees Valley Jobs and Skills Investment Scheme has had a significant impact on employment creation and business growth in the area.
“It demonstrates how strategically targeted support can deliver results and assist people to obtain work within the Tees Valley.
“The achievement of creating 700 jobs is a prime example of how TVU’s approach to helping strengthen the local economy is enabling enterprising companies, such as J&B Recycling, take their ambitions to the next level.”
The scheme offered businesses a subsidy of up to 50% (capped at £11,000) towards the wages of additional trainees, apprentices or graduates.
There was no limit to the number of people that a company could employ, providing the posts were additional and could be sustained for a minimum of two years.
It also had to be demonstrated that the job featured an element of training.
Key sectors of growth that could be funded included advanced manufacturing and engineering, digital and creative, logistics, chemical processing and respective supporting business sectors.