The UK and Scottish governments have awarded a £90 million investment into the Falkirk Growth Deal to support the chemical manufacturing industry at Grangemouth, as well as boosting the region’s economic recovery after the coronavirus pandemic.
The investment will help drive growth in the area, as well as supporting low-carbon technology, investment in infrastructure, energy transition, and skills. £40 million will come from the UK government, which will be matched by the Scottish government, plus an extra £10 million over the next 10 years, according to the BBC.
Fiona Hyslop, the Scottish economy secretary, said the Falkirk Growth Deal, the 11th such deal in Scotland, demonstrates the government’s commitment to the region in supporting local businesses and communities with measurable long-term benefits.
“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,” she said.
Cllr Cecil Meiklejohn, leader of Falkirk Council, while welcoming the investment and support, noted that given the population of the region and the importance of Grangemouth to local and UK economies, the investment was ‘relatively low’.
The Scottish Secretary of State, Alister Jack said the City Region and Growth Deals are essential in helping Scottish economic recovery, and the new Falkirk Growth Deal will not only boost investment to the regional economy but also create skilled jobs and help build essential infrastructure.
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