Go-ahead for £1.2m Coldstream Business Park project

Councillors last month approved the full business case for a project to deliver three modern, highly energy-efficient business units at Coldstream Business Park. This has now been approved at a recent meeting of the Borderlands Partnership.The project will deliver significant economic benefits, including the potential for nine jobs and addresses a lack of modern, good quality and suitably sized units to support inward investment and business growth.The £1.2 million project is part of the Business Infrastructure Programme within the Borderlands Inclusive Growth Deal, which will bring £85m investment from the Scottish Government, along with £65m from the UK Government for projects in Scotland.Scottish Borders Council is also progressing the development of a full business case for a similar project for new business units in Hawick, which will also seek to draw down funding from the Borderlands Inclusive Growth Deal. The council is committing £632,000 itself to the Hawick scheme.Councillor Scott Hamilton, executive member for community and business development, said: “Investment into local business infrastructure is critical to supporting and growing our local economy, and the planned investments into Coldstream and Hawick will tackle a shortage of business units and help to attract new businesses to the area and also allow existing small businesses to grow.“The Borderlands Inclusive Growth Deal is a huge opportunity for the Scottish Borders and our neighbouring authorities to take forward a range of exciting projects and investments and I am delighted at the continued progress being made.”