Scottish regions to share £140 million
Scottish Secretary Douglas Alexander has launched the Local Growth Fund, with five Scottish regions to share £140 million.
The programme will fund regional projects designed to drive economic growth. This could be projects like infrastructure investment, business support, or skills development.
Glasgow City will receive £60.0 million, Edinburgh & South East £37.8 million and Tay Cities £19.5 million. Ayrshire will receive £11.8 million and Forth Valley Region £9.8 million.
Funding has been allocated at regional level, via Regional Economic Partnerships (REPs), to enable strategic decision-making and maximum growth impact. Allocations have been made in proportion to population.
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Secretary of State for Scotland Douglas Alexander said: "The UK Government is today backing regional economies across Scotland with £140 million of new investment.
"This new investment will allow local leaders to decide how best to use the funding, which could include projects to improve infrastructure, business support or skills development. The UK Government will now work with local partners to develop investment plans tailored to each region.
"By investing in local areas, reducing child poverty, and bringing down inflation, the UK Government is focused on delivering material change to people across the country – boosting living standards and improving public services."
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