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28/01/2016

Second Scottish City Deal signed for Aberdeen

Words: Roger Milne
Aberdeen

Scotland’s second UK City Deal - focused on the greater Aberdeen area – was confirmed this week.

It involves a fund of up to £250 million and will again see equal funding committed by the UK and Scottish Governments.

The deal will see the UK Government, the Scottish Government and local authorities work together to invest in the future of north-east Scotland, including a boost for innovation and diversification in the oil and gas industry.

The agreement involves a number of proposals from the region, including a new energy innovation centre supporting the industry to exploit remaining North Sea reserves.

The deal will help to fund the expansion of Aberdeen harbour, enabling the city to compete for decommissioning work. It also sets out how the region will diversify the biopharmaceutical and agri-food industries, diversifying the area’s economy and creating new jobs, and export opportunities.

In a related move the Scottish Government said it would invest, over the same five to 10-year time span as the City Region deal, an additional £254 million for north-east Scotland’s infrastructure.

This will target the delivery of improved transport links, and digital connectivity as well helping local housing programmes by unlocking development sites at the request of local authorities and supporting the provision of affordable housing.

The announcement of the Aberdeen sub-region City Deal comes as the Cities and Devoltion Act received Royal Assent.

Image credit | iStock

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