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07.08.18

UK Government unveils £300m Edinburgh City Deal as part of £1bn Scotland boost

The city of Edinburgh will receive £300m of investment after it was formally signed off by Theresa May during her visit to the Edinburgh festival today.

The City Deal forms part of the government's £1bn investment in deals across Scotland, which was matched by the Scottish Government. In Edinburgh, it will help create growth and boost jobs across the region, with funds going directly to scientific research on space, health sciences, agri-tech, and food and drink at Heriot-Watt, Queen Margaret, and Edinburgh universities.

The funding will also create a new 1,000-seat Edinburgh concert hall, alongside £13m portion for six science hubs across the country such as Dundee and Glasgow Science Centres.

The signing of the full deal, backed by the UK Government, Scottish Government and local partners, will also spur the creation of five new innovation hubs, including in robotics and space technologies.

May said: “These City Deals build on existing strengths to open up new possibilities for the future in Scotland and the whole of the UK as part of our modern Industrial Strategy.

“As we leave the EU, the UK Government is working in partnership with business, academia and the devolved administrations to create more good jobs and spread economic prosperity across the country.

“By making the most of our country’s assets and the talents of all of our people, we can build a brighter future for the whole UK.”

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Image credit: theasis, iStock images

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