Edinburgh is to receive a £300 million investment as part of an Edinburgh and South East of Scotland City Region Deal, according to Secretary of State for Scotland David Mundell.
It is the fourth UK City Deal in Scotland along with the Scottish Government and promises to boost the economy of Edinburgh and South East Scotland.
The deal, announced by the UK Government on Thursday, brings total investment in UK City Deals in Scotland to more than £1 billion.
Mr Mundell said: "The UK Government is investing £300 million in the Edinburgh and South East of Scotland City Region Deal, which will boost the economy of Edinburgh and the whole of South East Scotland for decades to come.
"The Edinburgh deal will focus on the capital's strengths of new technology, innovation and culture. It will make a real difference to the lives of people in the region, creating jobs and prosperity and driving investment."
The Edinburgh City Deal will focus on maximising the economic value of new technology, and use the city's track record in innovation and new technology to build the sector, creating prosperity and jobs.
It will include the creation of five new innovation hubs, including in robotics and space technologies.
According to the UK Government, universities will be at the heart of the deal. Investment at Heriot-Watt, Queen Margaret and Edinburgh Universities are envisaged.
The deal also promises to create a new Edinburgh concert hall, reaffirming the city as a global cultural leader, and reinforcing and building the contribution of culture to the city's economy.
Mr Mundell added: "The Edinburgh deal brings UK Government investment in UK City Deals in Scotland so far to more than £1 billion and demonstrates clearly the value to Scotland's economy of being part of a strong United Kingdom."
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