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Growth fund

Grangemouth in sights of £90m government fund


Carbon plans for Grangemouth are proposed as part of the fund (pic: Terry Murden)

Cutting the carbon footprint at the Grangemouth chemicals plant is one likely target for a new £90 million investment in the economy around Falkirk.

The UK government is injecting £40 million through the regional growth deal, matched by Holyrood which is topping up the fund with an additional £10m to support Falkirk’s green targets.

The money, which will be invested over 10 years, will finance targeted economic development activity across a range of themes, including infrastructure, transport, innovation, energy transition and skills.

In particular it will support sustainable travel, tourism and energy, as well as the chemical manufacturing industry at nearby Grangemouth, enabling investment in low carbon innovation.

Specific projects and activities to be supported will be announced over the coming months.

Regional Growth Deals are agreements between the Scottish Government, the UK Government and local government designed to bring about long-term strategic approaches to improving regional economies.

The Falkirk scheme is the eleventh city and region deal for Scotland.

Scottish Economy Secretary Fiona Hyslop said: “We will… unlock investment and drive inclusive growth across the area, creating a fairer, greener and more inclusive wellbeing economy.”

Conservative Central Scotland MSP Alison Harris said the deal “provides serious money to Falkirk and should create opportunities for a huge number of people.”

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