Boost for Falkirk and Grangemouth as £100m Growth Deal signed
The deal should secure thousands of jobs in the area.
Last updated 14th Nov 2024
A multi-million-pound Growth Deal for Falkirk and Grangemouth has been signed off today.
The £100 million deal was inked by UK and Scottish Governments as well as Falkirk Council as part of a package that will strengthen the local economy and create more than a thousand jobs over the next 10 years.
Part of the plans should see up to 1660 jobs and £628m worth of economic benefits flow into the area as a result of the delivery of the deal, which was signed today.
It comes as the Grangemouth refinery owned by Petroineos has said that they suggested a similar transition to greener energy initiatives five years ago. However, Deputy First Minister Kate Forbes denied that the Government hadn’t supported the energy company.
She said: “I think it’s a stretch to say that we haven’t been supporting Petroineos for a number of years and we have been investing actively in a number of reviews looking at the long-term future.”
Vital funding boost
The deal was signed at the new Rosebank Distillery in Falkirk by the Rt Hon Ian Murray MP Secretary of State for Scotland and Kate Forbes, Deputy First Minister and Cabinet Secretary for Economy and Gaelic, as well as Councillor Cecil Meiklejohn, Leader of Falkirk Council.
Forbes said: “The Falkirk and Grangemouth region has a rich history with a strong industrial heritage, a proud community and significant tourist attractions.
“The Scottish Government’s £50 million investment will deliver projects to ensure the area continues to thrive, bringing jobs, active travel links, future skills training and new arts and cultural spaces.
“The Growth Deal will support the region to grasp the opportunities of the transition to net zero and remain at the forefront of innovation and manufacturing in Scotland, complemented by a community-led programme of projects in Grangemouth."
The agreement means 11 projects can be taken forward that include a variety of art and green-focused developments conceived with the input of locals.
They include the development of a Carbon Dioxide Utilisation Centre and a Bioeconomy Accelerator Pilot Plant in Grangemouth; a new Canal Centre and workshop at Loch 16 in Camelon; a Skills Transition Centre at Forth Valley College, Falkirk; and the transformation of unused land at three sites in Grangemouth to create development-ready investment opportunities.
Scottish support from Westminster
Ian Murray, Secretary of State for Scotland, said: "The signing of this deal shows our commitment to the Falkirk and Grangemouth area as it delivers £50 million in UK Government funding. It is part of the £1.4 billion the UK Government is investing in Scottish growth projects over the next decade.
"Growth is a key mission for the UK Government and a top priority of the Scotland Office. Our funding, coupled with investment from the other partners, will drive renewal and generate more than 1,000 jobs and hundreds of millions of pounds of economic benefits for these communities.
"The area's economic potential is huge, and I look forward to seeing this and many other examples of partnership working to deliver growth for Scotland."
The £80 million Growth Deal is jointly funded by the UK and Scottish Governments and is complemented by a further £10 million from the UK Government (Department for Energy Security and Net Zero) for future energy-related projects in Grangemouth and £10 million allocated to the Greener Grangemouth programme from the Scottish Government. With Falkirk Council investing £45m and Scottish Canals investing £3.7m, the overall Growth Deal investment is £148.7m.
Councillor Cecil Meiklejohn, Leader of Falkirk Council said: “The Growth Deal is a turning point for our community, bringing jobs, investment, and sustainable development. We are proud to partner in this project, which will elevate Falkirk and Grangemouth as vibrant, connected, and forward-looking areas for residents, businesses, and visitors alike.”