Support for local economies

26 Sep 2016 12:55 PM

£10 million boost for regeneration projects.

New business hubs will be delivered in four local communities, thanks to the Local Economic Development fund.

Clackmannanshire, Fife, Hawick and Irvine will each receive a share of the £10 million fund, which was announced in the Programme for Government.

These funds will be used to deliver a variety of business infrastructure projects; including an enterprise hub in Kincardine, small industrial workshops, spaces for small and growing businesses as well as a new industrial business space in the Irvine Enterprise Area.

Minister for Business, Innovation and Energy Paul Wheelhouse said:

“As was made clear in the Programme for Government, we wanted to introduce measures to boost business confidence and keep our economy moving. I’m pleased to now be able to confirm the four areas that will receive a share of the £10 million, I have no doubt that these projects will help to drive our economy and provide a real benefit to people across the country.

“In the wake of the EU referendum, we have committed to protecting Scotland’s interests, particularly our economic interests. We have been working to ensure that money reaches businesses, communities and individuals where it is most needed. Local businesses can be the engines of our economy and strong local economies are crucial to our success.”

Notes To Editors

A breakdown of funding is as follows:

  • Clackmannanshire - £2m
  • Fife - £2.7m
  • Hawick - £3.625m
  • Irvine - £1.675m

Further details on the Programme for Government announcement: http://news.scotland.gov.uk/News/Capital-spending-boost-2a38.aspx 

The Scottish Government has made a commitment to recognise and prioritise the importance of town centres in our Town Centre Action Plan and the Town Centre First Principle. The Principle calls on central government, local authorities, communities and the wider public sector to put the health of town centres across Scotland at the heart of decision-making processes. It helps protect our town centres and the public services within them.

LONGANNET TASK FORCE PROJECTS

  • £2.0m to Clackmannanshire Council – to support the creation of business units and a community enterprise hub
  • New business units to enable increased SME development within Clackmannanshire 
  • Support for growing businesses to relocate to more suitable premises to enable continued expansion
  • Creation of an enterprise hub for businesses, community and social enterprises.
     
  • £2.7m to Fife Council – to support an enterprise hub and industrial workshops in Kincardine to support diversification and business growth
  • Create an Enterprise Hub to be a multi-use building in Kincardine offering support services, for businesses and community enterprise and accommodation for SMEs. 
  • Build eight new industrial units in Kindcardine, with site infrastructure, for SMEs responding to the current shortage of such units in the area.

HAWICK ACTION PLAN PROJECTS

  • £3.625m to Scottish Borders Council – to deliver actions in the Hawick Action Plan to revitalise the town to encourage start-ups and retain growing business in the town. 
  • Resources will deliver projects that are key to revitalising Hawick, making it a great place in which to live, work and invest. They will help develop business accommodation and an enterprise centre which would match future business needs, retaining growing companies in the town and encourage enterprise to start up and grow.

IRVINE ENTERPRISE AREA PROJECT

  • £1.675m – Irvine, North Ayrshire – i3 Strategic Investment Campus Gateway Development and enabling infrastructure
  • To construct business infrastructure: new industrial business space, road and utility expansion to attract growth companies and investment from life and chemical sciences sector to the Irvine Life Science Enterprise Area 
  • Ensuring quality accommodation to attract growth businesses to locate to the enterprise area, creating 3000 square metres of business space and 2.5 hectares of land brought back into use