Green light for Fife industrial project signals 1,600 new jobs

Up to 1,600 new jobs are set to be created across Fife after £35million funding was awarded to an ambitious industrial regeneration project.The Fife Industrial Innovation Investment programme will support the creation of 1,000 new skilled permanent jobs and almost 600 short-term construction jobs, with joint working between the region’s universities and Fife businesses key to delivering high value jobs.Edinburgh and South East Scotland City Region Deal’s joint committee have now approved a £35 million investment in the long-term programme and work will get under way as soon as possible.As well as developing industrial estates in need of upgrades, the project will also deliver an estimated 130,000 square feet of new offices, industrial space and new storage/distribution facilities.These have been designed to draw in a diverse range of industries and encourage more businesses to locate and grow in the region, supporting the wider economy.In addition to the £35m City Region Deal funding, the Fife Industrial Innovation Investment programme will be bolstered by a further £9.2m from Fife Council.Proceeds from sales of serviced employment land will bring the total investment in the programme to £48.4m.The City Region Deal investment will be over 10 years and underpins its commitment to supporting long-term approaches to improving regional economies.Infrastructure Secretary Michael Matheson said the Edinburgh and South East Scotland City Region Deal was designed to deliver inclusive economic growth and distribute the benefits fairly across the entire region.The City Region Deal, which was signed last year, secures £1.3 billion of investment for the city region over the next 15 years.