Commitment to regeneration
Clyde Gateway to benefit from £6.5 million of Scottish Government funding.
Scotland’s largest regeneration project, Clyde Gateway has been awarded a £1 million loan from the Scottish Government’s SPRUCE (Scottish Partnership for Regeneration in Urban Centres) fund.
The money will be used to construct a manufacturing unit targeted at key growth sectors identified by Scottish Enterprise, who are also backing the project along with support from Glasgow City Council. It is expected to attract 80 new permanent jobs to the area whilst the building contract will provide three construction jobs and three training places.
Housing Minister Kevin Stewart has also confirmed that Clyde Gateway will receive £5.5 million from the Scottish Government in 2017/18 subject to parliamentary approval this week.
Visiting the site on Tuesday, Mr Stewart said:
“I’m really pleased to be here today to confirm this additional funding, which will not only continue the regeneration of the area but crucially will create dozens of jobs.
“The SPRUCE fund is providing essential investment that is helping to regenerate areas by delivering new infrastructure, supporting the economy and jobs and transforming our communities for the better.
“Over the last few years, Clyde Gateway has been at the forefront of transforming the east end of Glasgow beyond recognition. However it is essential that we maintain that momentum and this additional money being provided by the Scottish Government demonstrates our continued commitment to supporting the delivery of regeneration and improving the lives of the local communities across the east end of Glasgow and South Lanarkshire.”
Councillor George Redmond, the Vice-Chair of Clyde Gateway and Executive Member for Jobs, Business and Investment at Glasgow City Council said:
”I am delighted with this twin boost for the city and the Clyde Gateway area.
“The new factory will help increase Glasgow’s manufacturing base which continues to be such a vital component in our efforts to continue the growth of the local economy.
“There is clearly much to celebrate in terms of what has been achieved so far in transforming the fortunes of communities such as Bridgeton, Dalmarnock, Rutherglen and Shawfield but it also is worth noting that we are less than halfway through the 20-year programme of activity.
“It is pleasing that the Scottish Government is acknowledging Clyde Gateway’s great work with £5.5 million of funding for the coming year alongside a clear commitment to future activities as this will assist us in our wider efforts to attract the extensive investment and developments necessary to complete the task in hand.”
The SPRUCE Fund, which was established with Scottish Government and European Regional Development Fund money, has invested in a range of regeneration and energy efficiency projects across eligible local authority areas in Scotland.
This new investment follows on from the completion of the fund’s £50 million initial investment programme and which is now recycling these funds in to further projects.
Clyde Gateway East Project Funding
SPRUCE Loan £1.0m
Regeneration Capital Grant Fund (RCGF) Grant £1.0m (previously awarded)
Scottish Enterprise Grant £0.5m
Balance of funding - Clyde Gateway
The Regeneration Capital Grant Fund (RCGF)
- RCGF is a £25m p.a. joint SG/COSLA fund which supports locally developed regeneration projects which will deliver strong physical, social and economic outcomes, involve the local community, and potentially leverage other funding and investment.
- RCGF was agreed with and approved by COSLA in February 2013 and takes the form of a £25m annual bid fund.
- Three rounds of funding have now been completed. 66 projects have received recommendations of more than £66m, representing projects from across the country, encompassing both urban and rural areas.