The Glasgow and Clyde Valley City Deal
The Glasgow and Clyde Valley City Deal is an initiative by both the UK and Scottish governments to invest in the long-term sustainability and prosperity of the Glasgow city region. City Deal projects include construction, infrastructure and connectivity projects that will physically transform the fabric of the city and wider metropolitan region over the next 20 years.
The deal finalised in 2014 includes plans to create over 29,000 jobs over the next 20 years and unlock a further £3.3 billion of private sector investment across the city region.
Clyde Waterfront and West End Innovation Quarter
The plan for the Clyde Waterfront and West End Innovation Quarter is for investment in site remediation and transport improvements to the M8 to unlock 800 hectares of new employment sites. The site has not been in use since the closure of the docks in the 1970’s.
Glasgow Canal and Northern Gateway
This scheme has been created to provide a new bridge and transport improvements that are due to better access to the Northern Gateway. This will enable sufficient new housing to be built as well as improved facilities such as a new Urban Sports Centre.
Transport to Glasgow Airport
Investment into transport routes from the centre of Glasgow to Glasgow airport have been set out as part of the deal. This will include some form of rail link to the airport. The specific type of rail link is subject to further design and assessment.
Centre for Business Incubation and Development
Among the business incentives is the key creation of a ‘Centre for Business Incubation and Development’. A disused commercial property is to be transformed into a hub for high growth, high value businesses working in advanced design and manufacture, creative and digital industries, and enabling technology. The £5.1million project is set to open in May this year with the capacity to support 134 businesses, create 536 new jobs and increase gross business turnover by £53m.
Councillor Frank McAveety, chair of the regional cabinet which allocates City Deal funding, said: “These world-class innovation centres will make the Glasgow City-Region a leader in these fields, and show that the City Deal will deliver more than just massive infrastructure schemes.”
Glasgow are also set to create a ‘Challenge Lab’ in which companies from the key sectors will receive intensive business support from the public sector and then offer their time and expertise to deal with social relation problems. The hope is for more than 130 businesses to become engaged with the Challenge Lab.
Twenty major infrastructure projects will be funded through the City Deal, including the £114m development of vacant and derelict sites around Clyde Waterfront and the west end. The UK and Scottish Governments will each provide £500m funding for the City Deal, while the eight local authorities covered will borrow £130m.
If your business is to be involved in any of these projects, please let us know by commenting below!