Tayside and north east Fife set for £700m of investment

A £700 million programme to boost economic prosperity across Tayside and north-east Fife is to be confirmed today (Dec 17).

The Tay Cities Region Deal is an agreement between the UK Government, Scottish Government, Angus, Dundee City, Fife and Perth & Kinross councils.

The two governments have pledged £300 million, which Fife Council said will help lever a further £400 million of investment to create a smarter and fairer city region with over 6000 new job opportunities.

Among the key commitments in the deal are:

  • £62 million to the Invergowrie-based James Hutton Institute to deliver world-leading barley research and advanced plant research facilities;
  • £37 million regional cultural and tourism investment programme;
  • £26.5m for the build of the Eden Campus in Fife;
  • £26.5m Angus Fund;
  • £25m for growing the Tay Cities Biomedical cluster.

UK Government minister Iain Stewart said, “Today’s landmark signing will deliver transformative investment to the entire Tay region, including £150 million from the UK Government. The deal will create thousands of jobs through innovative projects such as cutting-edge forensic science at the University of Dundee and a drone port at Montrose in Angus.

“Investments in Perth City Hall transformation and Innerpeffray Library, Scotland’s oldest lending library, will also enhance the region’s culture and tourism offering. This is the seventh Full Deal we have signed in Scotland and we now have deals in implementation or development for all of Scotland, representing investment from the UK Government of over £1.5 billion.”

Scottish Government cabinet secretary for transport, infrastructure and connectivity, Michael Matheson, commented, “I am delighted to sign the Tay Cities Region Deal and confirm our £150 million investment at a time of unprecedented need. The commitments we have made with our partners today will help deliver sustainable, inclusive growth in the region through funding for skills, connectivity and innovation, and make a crucial contribution to economic recovery and renewal in the years to come.

“In these uncertain times, these investments will deliver much needed jobs across the region. I’m pleased that the projects delivered through the Deal can now get underway and start delivering real benefits for local people and businesses.”

Fife Council co-leader councillor David Ross, chair of the Tay Cities region deal joint committee, added, “I am very pleased that we are now finally in a position to sign the Tay Cities Deal. The Deal provides a programme of sustained investment for the next 10 years. It forms an important part of our plans to improve economic outcomes for everyone, reduce poverty and develop a fairer Fife.

“The investment, and the 6000 job opportunities across a range of industries that the deal will help to create, will be important in growing and sustaining a successful local and regional economy over the long term. It will also help address some of the more immediate issues facing the local and national economy in the wake of Covid-19 and Brexit and contribute to meeting the challenge of climate change.

“Under the Deal proposals, up to £26.5m will be invested in the University of St Andrews’ Eden Campus in Guardbridge that’s estimated to leverage in £110 million investment and create over 500 new jobs as the former paper mill is redeveloped into a global research and innovation hub helping deliver a low carbon future. This flagship Fife project will enhance Scotland’s position as a leader in innovation, sustainable development and low carbon technology.”