Ambitious city deal will deliver opportunities across Edinburgh, the Lothians, Fife and the Borders.
The Edinburgh and South East Scotland City Region Deal will deliver inclusive economic growth across the region through housing, innovation, transport, skills and culture.
It is expected that the new deal will deliver 21,000 new jobs for the area.
Speaking ahead of the official signing ceremony Economy Secretary Keith Brown MSP has welcomed the latest city deal which will transform the region’s economy and provide opportunities for all areas to grow.
The Scottish Government is investing £300 million in the deal in addition to funding from the six local authorities, University of Edinburgh and the UK Government.
Mr Brown said:
“The Scottish Government has been fully committed to this deal and I am very pleased that we have been able to get to the stage of achieving such an ambitious deal for the region.
Edinburgh and its city region is an area of huge importance to the Scottish economy.
It contains over a quarter of Scotland’s population and contributes £33 billion to the Scottish and UK economies.
The Scottish Government will be investing in the region’s workforce and will invest up to £25 million for an Integrated Regional Employability & Skills Programme which will reduce skills shortages and gaps, delivering opportunity for people across Edinburgh, the Lothians, Fife and the Borders.
The Scottish Government has also committed £140 million to transport projects including £120 million for improvements to the A720, Edinburgh City bypass and £20 million for improvements at West Edinburgh.
Providing decent housing is a priority for the Scottish Government so we will invest £65 million into new housing for the region.
We will also be investing £60 million in innovation and that will focus on ensuring businesses and communities across the region can benefit from opportunities through world class business infrastructure.
Festivals are a crucial part of the culture and economy of Scotland, which is why we are investing £10m towards a new concert venue for the city.
We will reinforce Edinburgh’s reputation as a leading centre for music and the performing arts through investing in the proposed IMPACT project, working with existing philanthropic and commercial partners to deliver a new world-class performance venue in the heart of Edinburgh, and a new home for the Scottish Chamber Orchestra.
In addition I look forward to discussing with partners how we can further support Edinburgh’s festivals.
Taken together these projects will help the region continue to thrive and grow, fulfilling our ambitions for the region to be one of the fairest and most inclusive areas in the country.”