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£1.2bn City deal for Glasgow and Clyde
Heather Church - August 25, 2014

Danny Alexander and Greg Clark visit Glasgow to sign the Glasgow and Clyde Valley City Deal, which sets out the region’s strategy for economic growth.

Danny Alexander, Chief Secretary to the Treasury, and Greg Clark, Minister for Cities, are in Glasgow today to sign the finalised £1.2bn Glasgow and Clyde Valley City Deal with local council leaders and the Scottish government.

This follows the City Deal Heads of Terms Agreement, which was announced by the Prime Minister, Chancellor and the Chief Secretary to the Treasury in July, setting out the UK and Glasgow and Clyde Valley contribution to the City Deal.

The finalised deal is set to create over 29,000 jobs over the next 20 years and unlock a further £3.3bn of private sector investment across the city region.

The flagship proposal remains a £1.13bn Glasgow and Clyde Valley Infrastructure Fund which will be used to take forward up to 20 infrastructure schemes across the city-region.

These include:

  • Clyde Waterfront and West End Innovation Quarter: investment in site remediation and transport improvements to the M8 to unlock 800 hectares of new employment sites on the Clyde Waterfront and the West End innovation quarter. This investment will bring this site back into use for the first time since the closure of the docks in the 1970s.
  • Glasgow Canal and Northern Gateway: This scheme will provide a new bridge and transport improvements that will improve access to the Northern Gateway. This will enable significant new housing to be built as well as improved facilities such as a new Urban Sports Centre.
  • Transport to Glasgow Airport: Investment in transport routes from Glasgow City Centre and Glasgow airport, as set out in the Surface Access Strategy. This will include some form of rail link to the airport; the specific type of rail link is subject to further design and assessment.
  • Following the July announcement by Glasgow leaders and the UK government to jointly provide £630m of funding for this proposal (£500m coming from the UK government), the Scottish government confirmed its intention to match the UK government contribution with £500m of new funding as well.