BUSINESSES in the west of Scotland have secured contracts worth tens of millions of pounds since the £1.13 billion Glasgow City Region Deal was launched nearly five years ago.
The Glasgow City Region Cabinet has revealed that £33 million of projects, spread over 179 contracts, were awarded to local businesses under the public infrastructure investment programme between its launch in 2014 and the end of June this year.
The Glasgow City Region Deal is one of the largest in the UK, and will fund infrastructure projects spanning eight local authorities across Glasgow and the Clyde Valley.
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The overall investment programme is forecast to create as many as 43,000 jobs over the two decades of its lifespan, which includes 15,000 construction roles and 28,000 permanent posts.
Projects completed to date include MediCity Scotland in North Lanarkshire, where 11,000 square feet of unused commercial space were revitalised at the medical technology incubation facility, and Tontine, a start-up base in Glasgow’s Merchant City.
In addition to the £33m of contracts awarded to companies so far, the Glasgow City Region Cabinet said funding worth more than £300m has also been agreed for investment in infrastructure works, signalling further opportunities for local businesses.
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Some 21 major infrastructure projects, focused on improving connectivity and unlocking sites for commercial, housing and retail development, are expected to be delivered by the £1.13bn City deal.
Susan Aitken, Leader of Glasgow City Council and chairman of Glasgow City Region Cabinet, said: “There is a real sense of progress and momentum with the City Deal now.
“As we stand on the cusp of our first five-year milestone, we’re on track to delivering what we have set out to achieve; fair, sustainable and inclusive economic growth.”
The Scottish and UK Governments have each provided £500m for the Glasgow City Region Deal, with local authorities contributing £130m.
Michael Matheson, Cabinet Secretary for Transport, Infrastructure and Connectivity at the Scottish Government, said the Glasgow City Region Deal “continues to stimulate inclusive economic growth, with millions of pounds strategically invested in the local economy in ways that will directly benefit both local businesses and some of our most deprived communities.”
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