£250 million Growth Deal is once-in-lifetime opportunity for Ayrshire Cover Story
The Halo Project in Kilmarnock promises to have a big impact on the town
Ayrshire is renowned for its stunning coastline, sparkling scenery, beautiful beaches and world-class golf courses.
It has incredible natural resources, a rich industrial heritage and accessible transport links to the whole of the UK. And now, thanks to the Ayrshire Growth Deal, there is the chance to maximise the potential of the area.
On 8 March 2019, the heads of terms on the Deal were signed, confirming a bumper £251 million worth of investment over the next 10-15 years.
“It’s absolutely massive for Ayrshire,” says Sharon Hodgson, Head of the Ayrshire Growth Deal Programme team.
She adds: “We’ve been given a once-in-a-lifetime opportunity and it’s up to us now to make the most of it. We have to get this right. If we do, it will have an incredible impact on this and future generations.”
Under the terms of the new Growth Deal, the UK and Scottish Governments will each invest £103 million. This will be supported by
20
South, East and North Ayrshire Councils who will contribute upwards of £45.5m between them.
The deal should create approximately 7000 jobs across a wide range of sectors. The investment will be delivered over a 15-year period and should also unlock £300m of private investment.
Sharon adds: “We all share a vision for Ayrshire to be increasingly vibrant, outward looking, confident, attractive to investors and visitors, and for it to make a major contribution to the growth of Scotland and the wider UK economy. Our plans are transformational and ambitious. But they're also achievable.
“Ayrshire has a lot going for it. The key to getting the Deal right, is capitalising on the many strengths of the area. It’s primed to take advantage of emerging technologies and build on robust sectors already operating in the area.”
The Deal seeks to make Ayrshire the UK’s leading hub for aerospace and space, with around £80m being invested in the sector.
COMMERCIAL PROPERTY MONTHLY 2019
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