Growth deal worth £150m set to boost Falkirk and Grangemouth

A new growth deal worth £150 million has been agreed upon by both the UK and Scottish Governments in an effort to boost the economy in Falkirk and Grangemouth. The aim is to create 1,000 jobs over the next decade, with projections showing it could bring up to 1,660 jobs and generate £628 million in economic benefits for the region. This deal includes 11 key projects, such as a carbon dioxide utilization center and a bioeconomy accelerator pilot plant in Grangemouth. Other initiatives 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.

Additional funding of £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 will contribute £45 million, and Scottish Canals £3.7 million, bringing the total investment in the growth deal to £148.7 million. The agreement was signed at Falkirk’s new Rosebank Distillery by Scottish Secretary Ian Murray, Deputy First Minister Kate Forbes, and Falkirk Council leader Cecil Meiklejohn. This deal comes following 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.

Deputy First Minister Kate Forbes highlighted the significance of the investment, stating that it will bring jobs, active travel links, future skills training, and new arts and cultural spaces to the region. Scottish Secretary Ian Murray emphasized the UK Government’s commitment to investing in Scottish growth projects, aiming to drive renewal, create jobs, and generate economic benefits for the communities. Falkirk Council leader Cecil Meiklejohn praised the growth deal as a turning point for the community, bringing jobs, investment, and sustainable development to Falkirk and Grangemouth.

The growth deal is set to elevate the region as vibrant, connected, and forward-looking areas for residents, businesses, and visitors. Various projects and major investment opportunities are on track for delivery in 2025, showing an exciting time ahead for the Falkirk Council area. The signing of the deal demonstrates a collaborative effort towards driving growth and prosperity in Falkirk and Grangemouth, highlighting the potential for innovation and manufacturing in the region to thrive and adapt to the transition to net zero.

In conclusion, the growth deal between the UK and Scottish Governments signifies a significant step towards revitalising the economy in Falkirk and Grangemouth, with the aim of creating jobs, driving innovation, and ensuring sustainable development for the communities involved. The investment in key projects and initiatives aligns with the broader goal of supporting the region’s transition to net zero and fostering growth in various sectors. As the deal progresses, it presents a promising outlook for the future of Falkirk and Grangemouth, showcasing the potential for economic resurgence and community development in the years to come.