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17/08/2015

Fund created for Edinburgh city deal

Words: Laura Edgar
Edinburgh / Shutterstock_216865126

Edinburgh and South East Scotland City Region has created a £1 billion fund to support its bid for a city deal.

The £1 billion infrastructure fund, innitially announced in April, will focus on priority investment areas including transport, housing, economic regeneration, energy and digital connectivity.

Edinburgh and South East City Region - comprising Edinburgh, Borders, Fife, Mid, East and West Lothian councils - estimates that a further £3.2 billion of private sector investment could be leveraged, which would, it says, generate “tens of thousands of new jobs”, providing a “sustainable 5 per cent uplift to the local economy”.

Investment would, says the group, be supported by a “complementary package of skills and innovation measures”, including business-led training academies in key growth sectors.

Speaking on behalf of the six local authorities, City of Edinburgh Council leader Andrew Burns said: “In creating this fund, we want to build on our strengths whilst tackling persistent pockets of inequality and other constraints that threaten to hold the region back.”

Edinburgh and South East City Region will now talk to the UK and Scottish Governments about the development of a detailed proposition.

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