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Aberdeen City Region deal signed
The Aberdeen City Region Deal has been launched with the official signing of the £250 million agreement.
The 10-year deal is designed to act as a catalyst for economic growth and diversification, with partners announcing that estimates suggest the Aberdeen City Region Deal’s total value could be up to £826 million once private sector and other investment is factored in.
The terms of the deal commit both the UK Government and Scottish Government to jointly investing up to £250 million whilst Aberdeen City Council, Aberdeenshire Council and local partners are committed to investing up to £44 million over the next decade.
The Aberdeen City Region Deal will support a number of projects, including the Oil & Gas Technology Centre, a digital infrastructure fund and the proposed expansion of Aberdeen Harbour.
Jenny Laing, Aberdeen City Council leader, said: “The signing of the Aberdeen City Region Deal marks the final stage in the process of bringing the deal to fruition but also marks the beginning of a long-term programme designed to make a positive impact on our region and its economy, bringing benefits now and for generations to come.”
Richard Thomson, Aberdeenshire Council co-leader, added: “Today is a significant day. We have now put pen to paper on one of the biggest opportunities that this region has seen and it is hard to overstate the importance of this.”
The deal has been developed over the last two years as a partnership between the UK government, Scottish government, Aberdeen City Council, Aberdeenshire Council, Opportunity North East, Scottish Enterprise and other local partners. It is governed by a Joint Committee of representatives from Aberdeen City Council, Aberdeenshire Council and Opportunity North East.
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