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£1.3 billion investment given the green light.
First Minister Nicola Sturgeon will formally sign off the Scottish Government’s investment in the ambitious Edinburgh and South East Scotland City Region Deal.
The £1.3 billion deal will deliver inclusive economic growth across the region through housing, innovation, transport, skills and culture. The Scottish Government and the UK Government will each invest £300 million over the next 15 years.
The Scottish Government’s investment will contribute towards 41,000 new homes, 21,000 jobs and improve the skills of an estimated 14,700 people.
The Scottish Government’s investment in the City Region includes:
• £60 million towards a Data Driven Innovation programme of investment, including the creation of economic infrastructure across the region to ensure that businesses and communities across the region are fully able to engage in the resulting opportunities
• £65 million towards a regional housing programme, including the creation of a new housing company and housing infrastructure funding to enable the delivery of 41,000 new homes
• £120 million for transport improvements to Sheriffhall Roundabout
• £20 million for public transport improvements in West Edinburgh
• £25 million for an Integrated Regional Employability & Skills Programme to reduce skills shortages and gaps and deliver opportunities for people across Edinburgh, the Lothians, Fife and the Borders
• £10m towards a new concert venue for the city, providing a home for the Scottish Chamber Orchestra and reinforcing Edinburgh’s reputation as a leading centre for music and the performing arts.
In addition, the Scottish Government is also providing Edinburgh Festivals with a £5 million investment over the next five years to fund The Platforms for Creative Excellence (PLaCE) programme which supports new innovative programming and skills development opportunities across the capital’s 11 major festivals between 2018-2023.
First Minister Nicola Sturgeon said:
“Edinburgh and the South East of Scotland is an area of huge importance to the Scottish economy. The region contains over a quarter of Scotland’s population and contributes £33 billion to the Scottish and UK economies.
“The Scottish Government’s £300 million investment in the City Region Deal will contribute towards 41,000 new homes, 21,000 jobs and improve the skills of an estimated 14,700 people across the region. Our investments will ensure businesses and communities from across the region benefit from the opportunities created by this the city region deal.
“Taken together these projects will help the region continue to thrive and grow, fulfilling our ambitions for the region to be one of the fairest and most inclusive areas in the country.”