Forth Valley set to benefit from £9.8m economic investment

The councils will use the allocation for supporting local businesses, developing workforce skills, and aiding housing and infrastructure projects which will create new jobs and aims to bring long-term economic growth across the region.

The money comes from the UK government’s Local Growth Fund, which will deliver £140m over three financial years, 2026/27 to 2028/29, in a bid to improve living standards and drive regional growth.

The fund gives regional leaders the power to create tailored plans that improve infrastructure, living standards, and the delivery of skilled jobs in a way that will benefit their communities most.

Currently, £52.1m has been released nationally from the Local Growth Fund, with £3,665,499 of that released to Forth Valley council areas.

Councils within the Forth Valley region state the allocated money will be used to deliver new skills and employability services, economic development, commercial property and transport improvements, helping local businesses grow, aiding public services, and bringing back empty or paused housing sites into productive use through the Forth Valley Housing Enablement Fund.

The £3.7m was released after the Investment Plan was approved and the Memorandum of Understanding between Falkirk Council (acting on behalf of the Forth Valley region) and the UK government Ministry of Housing, Communities, and Local Government was signed.

Forth Valley hopes that by 2029, the money will help support 370 businesses, provide grants for 94 businesses, create 500 jobs, support 380 people build employment skills, help 160 gain qualifications, and unlock more than 19,000 square feet of land to be used for development.

The funding aids Scotland’s Regional Partnerships that contain areas with the lowest gross disposable household income per capita. The package has been distributed proportionately by population across five Scottish regions - Forth Valley, Glasgow City Region, Edinburgh and South East Scotland, Ayrshire, and Tay Cities Region.

Councillor Cecil Meiklejohn, leader of Falkirk Council, said: “This investment represents a significant opportunity for Forth Valley as a region and demonstrates the strength of Falkirk, Stirling and Clackmannanshire Councils working together to support businesses, invest in people and unlock opportunities for sustainable economic growth.

“By investing in areas such as infrastructure, business growth, innovation and skills, we can help create new opportunities, support our communities and raise living standards across Forth Valley laying the foundations for longer-term regional collaboration and prosperity.

“We look forward to working with our partners in Stirling and Clackmannanshire to ensure this investment delivers meaningful and lasting benefits for people and businesses throughout the Region.”

The investment supports Forth Valley’s goal to become the most inclusive, productive, and sustainable economy in Scotland by building on the region’s strengths in advanced manufacturing, life sciences, tourism, logistics, digital industries and innovation.

Euan Stainbank, Falkirk MP, said: “This £3.6 million is welcome news for Falkirk and the wider Forth Valley, and it shows what can be achieved when UK government funding is delivered to where it is needed most, rather than those who would prefer it to be sent to Edinburgh.

“For too long, the SNP has centralised power and funding decisions at Holyrood. This UK Labour Government is doing things differently, putting additional resources where they are needed the most and directly into the hands of local partnerships.

"This funding will unlock new houses for local families, give young people the skills they need to get on in life, specialist support to businesses and develop capacity regionally so that we can deliver greater investment in the common challenges the Forth Valley faces."

“This is part of a total £9.8 million commitment to Forth Valley over the next three years, and I will continue to press for this funding to be used to unlock the housing sites, business support and employability programmes that our communities need”.

It is estimated that Scotland will be up to £25m better off through the Local Growth Fund, Growth Mission Fund, and Pride in Place funding than it would’ve been under the Shared Prosperity Fund.

Communities are set to benefit from up to £250m in investments over the next three years, and the UK government is investing more than £2.3 billion to local and regional projects across Scotland in the next ten years.

The UK Shared Prosperity Fund closed in March this year, transitioning into the Pride in Place, Local Growth Fund, and Growth Mission Fund.