Funding for regional deal.
Investment of up to £50 million by the Scottish Government in the Falkirk area will drive inclusive and sustainable economic recovery and growth across the region as part of the Falkirk Growth Deal.
The money, which will be invested over 10 years, will fund targeted economic development activity across a range of themes, including infrastructure, transport, innovation, energy transition and skills.
Regional Growth Deals are agreements between the Scottish Government, the UK Government and local government designed to bring about long-term strategic approaches to improving regional economies.
The UK Government are investing £40 million in the Deal. The funding from the Scottish Government matches that and provides an additional investment of £10 million which has been committed to support Falkirk’s ambitions for the green economy.
Announcing the funding Economy Secretary Fiona Hyslop said:
“The Falkirk Growth Deal demonstrates our commitment to supporting the region and delivering long-term benefits to the local communities and businesses.
“We will continue to work with our partners in Falkirk and the UK Government, supported by our enterprise and skills agencies, to help them to consider proposals that will unlock investment and drive inclusive growth across the area, creating a fairer, greener and more inclusive wellbeing economy
“The Scottish Government has now committed more than £1.8 billion to City Region and Growth Deals and related investments across Scotland.”
The specific projects and activities to be supported will be announced over the coming months, as part of a Heads of Terms agreement.
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