Falkirk Growth Deal: Local economy receives £90m boost

The Scottish and UK governments are pledging £90m of funding to help boost the economy around Falkirk.

The bulk of money will go towards the area's Growth Deal to create skilled jobs as well as investing in local infrastructure.

The Scottish government is matching the UK Treasury's £40m investment as well as adding £10m for local green projects.

Both say the initiatives are crucial to Scotland's economic recovery.

It is also expected that the money will secure jobs and support the chemical manufacturing industry at Grangemouth.

This latest agreement brings the total investment in growth deals across Scotland by both governments to more than £3.2bn.

The UK government said the Falkirk Growth Deal was the 11th UK deal in Scotland.

Scottish Secretary Alister Jack said: "We look forward to working with our partners in Falkirk and the devolved administration in Scotland to develop innovative and effective proposals."

Scotland's 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."

Falkirk Council leader, councillor Cecil Meiklejohn, 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."

She added: "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."

City region deals are designed to encourage economic growth and create jobs.

They have seen the UK and Scottish governments collaborate with local councils on infrastructure schemes such as new rail links.

Glasgow signed Scotland's first city deal in 2014.

A £90.2m City Region Deal investment into Stirling and Clackmannanshire by the Scottish and UK governments was announced in May 2018.