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Report reveals DigitalCity鈥檚 successful contribution to the local economy

A unique project which has supported the Tees Valley鈥檚 tech sector over the last two decades is responsible for almost 拢53m of added value to the region鈥檚 economy.

A report investigating the effectiveness of the DigitalCity initiative has determined that the project is excellent value for money and that it has been delivered to a high standard according to beneficiaries. The summative assessment of DigitalCity has also found that for every single pound invested in the project it has returned more than 11 times that amount,

DigitalCity is a 海角直播-led initiative funded through the European Regional Development Fund* which equips organisations with the knowledge, skills and tools they need to thrive in the ever-expanding digital world of today. The project recently celebrated over 20 years of delivery.

A bespoke survey received 67 responses, with 73% of beneficiaries operating in either the digital or creative sectors and 92% of beneficiaries stating they were satisfied or highly satisfied with the support provided by DigitalCity.

The impact of the positive responses specify that DigitalCity is forecast to achieve a Benefit Cost Ratio (BCR) of 11.44:1, meaning that for every 拢1 of investment into the initiative, it will bring 拢11.44 in economic returns within the Tees Valley economy. This has resulted in DigitalCity being characterised as outstanding value for money.

Key figures from the report show that the scheme is forecasted to have supported around 拢52,968,419 in cumulative net Gross Value Added within the Tees Valley economy.

Businesses who have been supported by DigitalCity, cited that they saw an increase in productivity, business resilience and the development of new products, services or processes as their main benefits from working with the initiative.

Lynsey Robinson, Director of DigitalCity said: 鈥淲e are delighted by the figures and tremendous feedback presented as an outcome of this summative assessment of DigitalCity. It is a collective effort that goes into running such an impactful project, and these results demonstrate the need for such support mechanisms for the Tees Valley digital and creative clusters.

鈥淲ith the European Regional Development Fund ending, we acknowledge that the fantastic team at DigitalCity will no doubt continue to mentor, support and advise local digital leaders.鈥�

To read more and meet the people behind the statistics, visit DigitalCity鈥檚 celebration of digital in Tees Valley at