Edinburgh and South East Scotland City Region Deal Secured
The Edinburgh and South East Scotland City Region has secured a £1.1bn deal from the UK and Scottish Governments.
The ambitious city region deal, which will drive investment and address inclusion across the area, is being signed today by First Secretary of State and Minister for the Cabinet Office, Damian Green; Cabinet Secretary for Economy, Jobs and Fair Work, Keith Brown and Leader of the City of Edinburgh Council, Adam McVey on behalf of local authority partners (East Lothian, the City of Edinburgh Council, Fife, Midlothian, Scottish Borders and West Lothian). Also present will be David Mundell, Secretary of State for Scotland.
The heads of terms is an agreement between the Scottish Government, the six local authorities, the UK Government and regional partners. Both governments are committed to jointly investing £600m over the next 15 years and regional partners have committed to adding up to £500m, overall representing a deal worth £1.1bn. In addition, the deal will generate over £5bn worth of Gross Value Added (GVA) over the same period.
- £300m for world leading data innovation centres
- £140m for crucially needed A720 city bypass at the Sheriffhall Roundabout and transport improvements across west Edinburgh
- £20m capital funding for new world class concert hall
- £25m regional skills programme to support improved career opportunities for disadvantaged groups
- £65m of new funding for housing to unlock strategic development sites