A new growth deal worth £150 million has been signed by both the UK and Scottish Governments to boost the economy in Falkirk and Grangemouth. The deal aims to create up to 1,000 jobs over the next decade and is projected to generate £628 million in economic benefits for the region. This significant investment includes funding for 11 key projects, such as a carbon dioxide utilization center and a bioeconomy accelerator pilot plant in Grangemouth. Other initiatives in the deal feature a new canal center and workshop in Camelon, a skills transition center at Forth Valley College in Falkirk, and the redevelopment of unused land at three Grangemouth sites to attract further investments.
Furthermore, an additional £10 million from the Department for Energy Security and Net Zero will support future energy projects in Grangemouth, while the Scottish Government has committed £10 million to the Greener Grangemouth program. Falkirk Council is set to contribute £45 million, with Scottish Canals adding £3.7 million, bringing the total investment in the growth deal to £148.7 million. The agreement was officially signed at Falkirk’s new Rosebank Distillery, where Scottish Secretary Ian Murray, Deputy First Minister Kate Forbes, and Falkirk Council leader Cecil Meiklejohn were present.
This growth deal comes at a crucial time for the region, especially with the news that Grangemouth’s oil refinery is set to close next year, potentially affecting up to 400 jobs as the site transitions to an import-only terminal. Both governments are optimistic that this investment will not only create jobs but also drive innovation and manufacturing in the area, supporting the transition to a net-zero economy.
This deal signifies a turning point for the Falkirk and Grangemouth community, bringing in sustainable development, job opportunities, and significant investment. The leadership of both governments, alongside local councils, are committed to ensuring that the region continues to thrive economically and remains at the forefront of Scotland’s industrial growth.
In summary, the £150 million growth deal signed between the UK and Scottish Governments for Falkirk and Grangemouth is set to bring about a new era of economic prosperity and job creation in the region. With a focus on innovation and sustainability, the projects funded by this deal aim to revitalise the area’s economy and secure its position as a hub of manufacturing and development. The partnership between government entities and local councils highlights a collaborative effort to drive growth and build a brighter future for Falkirk and Grangemouth.