The first major spend funded by Falkirk Council’s ambitious TIF scheme gets under way next month.
Over £2 million from the Tax Incremental Finance budget approved by the Scottish Government earlier this year has been targeted to improve road links in Grangemouth.
The cash will be invested widening the carriageway of the A905 at Junction 6 of the M9 at Earls Gate and the M9 slip road at Glensburgh start.
New traffic lights and pedestrian crossings are also planned at both locations to ease traffic flow and make it easier for drivers to negotiate the network.
On the downside the project is expected to take six months to complete and the council is already warning motorists to expect temporary road closures nearby and delays at peak times.
An information session to explain the possible problems to neigbours is being hosted tonight (Thursday) at Dalgrain Community Hall in Grangemouth between 10 a.m. and 8 p.m. when scaled-down versions of the planned improvements will be on display.
Councillor Dennis Goldie, the Labour-led administration’s spokesperson for economic development, said: “TIF represents the most ambitious economic investment plan we have ever undertaken and we are fully committed to seeing its delivery across the Falkirk Council area. The works in Grangemouth are significant for helping potential business investment and when completed will allow better transport links in and out of the area.”
The TIF scheme is predicted to attract nearly £413 million worth of investment across the Falkirk Council area and create up to 6000 jobs over the next 20 years.
The bid approved by Scottish Ministers was over three years in the planning and will see the council borrow up to £67 million against rates income expected from business and industry as regeneration and development gets underway.
Three phases are planned to deliver major infrastructure improvements which will unlock up to 400,000 square metres of land to employers.
Council leader Councillor Craig Martin said: “We are hitting the road running.”