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Two Scottish growth deals get £50m

Words: Laura Edgar
Falkirk / iStock-157505570

Falkirk and the Outer Hebrides, Orkney and Shetland will separately benefit from up to £50 million of Scottish Government investment as part of regional growth deals.

In Falkirk, the money, which will be invested over 10 years, will be targeted towards economic development activity and Covid-19 recovery, including on infrastructure, transports, energy transition, skills and innovation. 

As part of the deal, the UK Government will invest £40 million. 

Fiona Hyslop, economy secretary, said the Falkirk Growth Deal demonstrates the Scottish Government’s commitment to supporting the region and delivering benefits that are long term for 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.”

In the Outer Hebrides, Orkney and Shetland, up to £50 million of Scottish Government cash will be invested as part of the Islands Growth Deal. It will go towards economic recovery, tourism, infrastructure, innovation, energy transition and skills. It will also be invested over 10 years.  

The UK Government is also investing £50 million into this deal.

Michael Matheson, Cabinet Secretary for Transport, Infrastructure and Connectivity, said: “The Islands Growth Deal is the final regional growth deal to be announced and marks our commitment to invest across all of Scotland, which is something we have pushed for. This money will work to improve the quality of life for island communities, alongside the Scottish Government National Islands Plan we introduced to the Scottish Parliament at the end of 2019.

“It is important that all deals take account of the unprecedented economic challenges created by coronavirus and we are working with partners to understand how best to move forward and respond to current circumstances.”

Image credit | iStock