The UK and Scottish governments and Falkirk Council have signed the Falkirk Grangemouth Growth Deal (GGD), an initiative designed to bolster the local economy and create more jobs over the next ten years.
The deal focuses on a cohesive investment package to deliver new investment in the Falkirk area.
It aligns with the UK Government's Industrial Strategy, which seeks to enhance productivity and economic growth. It also supports the Scottish National Strategy for Economic Transformation and prioritises sustainable growth.
The combined investment of £100m ($126m) from both governments will back local industries and create new opportunities for workers in the region.
As a result of the deal, up to 1,660 jobs and £628m in economic benefits are anticipated for the area.
The agreement enables the advancement of 11 projects, including the development of a Carbon Dioxide Utilisation Centre and a Bioeconomy Accelerator Pilot Plant in Grangemouth, a Skills Transition Centre at Forth Valley College, Falkirk, and a new Canal Centre and workshop at Loch 16 in Camelon.
The GGD comprises £80m in joint funding from the UK and Scottish governments, with an additional £10m from the UK government's Department for Energy Security and Net Zero for future energy projects in Grangemouth, and £10m from the Scottish Government for the Greener Grangemouth programme.
Falkirk Council and Scottish Canals further contribute £45m and £3.7m, respectively, bringing the total investment to £148.7m.
Ian Murray, Secretary of State for Scotland and Kate Forbes, Deputy First Minister and Cabinet Secretary for Economy and Gaelic, and Councillor Cecil Meiklejohn, Falkirk Council Leader, signed the deal at the new Rosebank Distillery in Falkirk.
The 11 projects under the Falkirk Grangemouth Growth Deal are categorised into 'Creating Great Places' and 'Innovative Industry'.
The former includes the construction of a new Arts Centre, revitalisation of canal network areas, creation of an Art Park trail, and improvements to Falkirk's transport network.
Innovative Industry focuses on establishing a Skills Transition Centre, preparing strategic investment sites, developing the Grangemouth Sustainable Manufacturing Campus, and creating a Transport, Renewables and Career Exploration Hub.
Additionally, £10m is allocated for future energy-related projects to support Grangemouth's economic transition.
The Greener Grangemouth Programme, a ten-year initiative, aims to integrate community wellbeing into Grangemouth's Just transition, complementing the main themes of the Growth Deal.
Meiklejohn said: “It is one of a suite of programmes and major investment opportunities set for delivery in 2025. The Growth Deal Skills Transition Centre, Canal Centre and Falkirk Arts Centre will progress at pace in 2025, the Falkirk Tax Incremental Finance programme is already delivering results with projects such as the A9/Grandsable Road junction completed earlier this year, and the Forth Green Freeport now open for business and actively promoting investment opportunities in the area.”
