City Deal Cabinet approves first stage of funding for over £900million of projects
The Glasgow and the Clyde Valley City Deal Cabinet has approved the first stage of funding for £918million worth of infrastructure projects in the area.
These particular projects will be located in six of the eight local authority boundaries participating in the City Deal: East Renfrewshire Council, Glasgow City Council, North Lanarkshire Council, Renfrewshire Council, South Lanarkshire Council and West Dunbartonshire Council.
The business cases approved were for the following projects:
- Outline business case for the M77 Strategic Corridor (East Renfrewshire Council)
- Strategic businesses cases for Canal and North Gateway; City Centre Public Realm & Infrastructure Programme); Clyde Waterfront and West End Innovation Quarter; Collegelands, Calton & Barras; and the Metropolitan Glasgow Strategic Drainage Partnership (Glasgow City Council)
- Strategic business cases for A8/M8 Strategic Corridor; Gartcosh/Glenboig Community Growth Area; and the Pan Lanarkshire Orbital Transport Corridor (North Lanarkshire Council)
- Strategic Business Cases for Clyde Waterfront and Renfrew Riverside Project; and Glasgow Airport Investment Area (Renfrewshire Council)
- Strategic business cases for the Cathkin Relief Road; the Greenhills Road / A726 Dual Carriageway; Community Growth Areas; and Stewartfield Way Transport Capacity Enhancements (South Lanarkshire Council)
- Strategic business case for the Exxon Site Development Project (West Dunbartonshire Council)
Councillor Gordon Matheson, Chair of the Glasgow and Clyde Valley City Deal Cabinet, said: “The decision by the Cabinet to approve these business cases signals the first stage in delivering projects which will transform the Clyde Valley’s economy. These exciting City Deal schemes will greatly improve our infrastructure, making the area even more attractive to investors and developers and will bring thousands of jobs.”
The initial funding for these business cases approved by the Glasgow and Clyde Valley City Deal Cabinet is around £12.4million.
The City Deal will bring tens of thousands of jobs to Glasgow and the Clyde Valley over the next few decades through 20 major infrastructure projects; drive innovation and growth through the support of key sectors such as life sciences; and address challenges in the region’s labour market.
Both the UK and Scottish Governments will give the Glasgow and Clyde Valley local authorities £500million each in grant funding for the City Deal, and the local authorities will borrow a further £130million to use for capital investment.
The City Deal is expected to give Glasgow and Clyde Valley a permanent uplift in its GVA of £2.2billion per annum (4.4%); generate 15,000 construction jobs during the construction period and 28,000 permanent additional jobs once construction is complete; and will unlock £3.3billion of private sector investment.
The eight local authorities participating in the Glasgow and Clyde Valley City Deal are: East Dunbartonshire Council; East Renfrewshire Council; Glasgow City Council; Inverclyde Council; North Lanarkshire Council; Renfrewshire Council; South Lanarkshire Council and West Dunbartonshire Council.
