A significant economic boost is on the horizon for Falkirk and Grangemouth as the UK and Scottish governments have jointly signed a growth deal worth nearly £150 million. This substantial investment aims to stimulate the local economy. Up to 1,660 jobs and £628m of economic benefits are expected to flow into the area as a result.
The deal represents a collaborative effort between the two governments to drive economic growth and development in the region.
11 projects can now be taken forward, including the development of a carbon dioxide utilisation centre and a bioeconomy accelerator pilot plant in Grangemouth.
Additional initiatives involve the establishment of a new canal center and workshop in Camelon, a skills transition centre at Forth Valley College in Falkirk, and the repurposing of vacant land across three locations in Grangemouth to foster more investment prospects.
This significant investment is poised to have a transformative impact on Falkirk and Grangemouth, two areas that have been seeking economic revitalisation, providing a substantial boost to local employment opportunities and contribute to the overall economic health of the region.
The growth deal is supported by an additional £10 million from the Department for Energy Security and Net Zero for future energy-related projects in Grangemouth, and £10 million dedicated to the Greener Grangemouth programme by the Scottish Government.
Falkirk Council is contributing £45 million, while Scottish Canals is investing £3.7 million – raising the total investment in this growth agreement to £148.7 million.
The agreement marks a positive step towards enhancing the economic prospects of Falkirk and Grangemouth, with the potential to attract further investment and stimulate additional growth in the coming years.
