£1.1bn Edinburgh City Deal launches

The move marks the fourth UK City Deal in Scotland, carried out in partnership with the Scottish Government and designed to boost the economy of Edinburgh and the whole of South East Scotland during the coming decades.

The UK government investment of £300 million will be matched by the Scottish Government, with contributions from councils and universities expected to take the total investment to about £1.1 billion.

Today’s move brings UK Government investment in UK City Deals in Scotland so far to more than £1 billion, through similar projects implemented in Glasgow, Inverness, and Aberdeen.

The package for Edinburgh and the South East 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.

Key commitments of the deal include:

Speaking ahead of the official signing ceremony, Economy Secretary Keith 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.”

Secretary of State for Scotland David Mundell added: “The Edinburgh deal will focus on the capital’s strengths of new technology, innovation and culture. It will make a real difference to the lives of people in the region, creating jobs and prosperity and driving investment.”