“The Tees Valley Business Board welcomes the findings of the report and is pleased to see that the STDC Board intends to address the issues of governance and transparency, at pace.

“We have a once-in-a-generation opportunity to build on the fantastic foundations that have been laid, across Tees Valley, over the past seven years. The Business Board remains focused on driving inclusive economic growth and accessible opportunity for all.

“In addition to strategic oversight, our role is one of business engagement and representation, and it is important to state that the regeneration of the Tees Valley, and the far-reaching opportunities this provides across our business community, is far wider than Teesworks, and it is frustrating to see the impact the ongoing nature of this review has had on inward investor confidence and therefore further job creation.

“To this end we would ask that our local politicians now engage responsibly with the findings of this review and support the implementation of its recommendations, rather than continue the political narrative that is unfairly damaging to Tees Valley, our business community and our people.”