As well as delivering new assets for the area, the agreement will help Grangemouth’s petrochemical complex transition to net zero
Up to 2,000 jobs and £1 billion worth of future investment is expected to result from today’s signing of the Heads of Terms agreement between UK Government, Scottish Government and Falkirk Council in the Falkirk Growth Deal.
The agreement means 11 projects can now use a total of £80 million investment from UK and Scottish Governments, £45 million from Falkirk Council, and £5.8 million from Scottish Canals, to create an Investment Zone for Falkirk and Grangemouth.
The deal will be signed by Economy Secretary Kate Forbes, UK Government Minister Iain Stewart and leader of Falkirk Council Cecil Meiklejohn.
As well as delivering new assets for the area, the agreement will help Grangemouth’s petrochemical complex, which currently produces 10% of Scotland’s carbon emissions, transition to net zero.
Long-term investment in the area should result in the creation of centres of excellence in carbon capture and utilisation, biotechnology, public transport technology, canal maintenance and operations, skills and innovation.
There are also plans for a Falkirk Central, multi-modal transport hub and green, active travel network, along with an arts centre and national outdoor art park.
Forbes said: This deal will help regenerate town centres, create new cultural attractions, transform local transport, reskill the workforce and help decarbonise industry.
Our investment will ensure communities from across Falkirk and the surrounding area benefit from opportunities created and highlights our commitment to invest in our places and people, she said.
Meiklejohn said: A lot of hard work has gone into securing this deal, which will help us deliver on our Council priorities and our Council of the Future transformation programme.
The agreement should also bring benefit to businesses already based in the local area.