The Scottish and UK Government have pledged £90m into Falkirk’s economy as part of the Falkirk Growth Deal today (July 21).
The money will be used to drive and grow inclusive and sustainable economic recovery in the region over the next ten years, with targeted economic development across infrastructure, transport, innovation, energy transition and skills.
£40m will come from the UK Government as part of the deal, which will be matched by the Scottish Government and added to, with an additional £10m investment to support green economic ambitions.
Councillor Cecil Meiklejohn, Leader of Falkirk Council said:
“We welcome this offer of support and will work with Scottish and UK Governments to progress this initiative while seeking further assistance to deliver on the full scale of the ambition for our area’s economy.
“The award however is relatively low considering our population and large-scale ambitions we have for the area and Grangemouth’s strategic importance to the Scottish and UK economies.
“Our plans also included national scale plans such as a transition to a low carbon future and significant reduction in climate change.
“The Investment Zone for Falkirk-Grangemouth aims to transform the area’s economic fortunes at a vitally important time especially post Covid-19.
“We will continue to push for more funding sources to ensure the vital role the local economy plays in Scotland and further afield is recognised and supported leading to large scale employment opportunities as well as enabling innovation.”
Specific details of projects and activities will be announced over the coming months.
Image: Falkirk Council