The Stirling and Clackmannanshire city region deal will be signed by council leaders and representatives of the UK and Scottish governments today.
Scottish secretary Alister Jack and Scottish Government infrastructure minister Michael Matheson will join the leaders of Stirling and Clackmannanshire councils, Cllrs Scott Farmer and Ellen Forson, at a local college for the ceremony.
The £214m funding package is focussed on innovation, digital, culture, heritage, tourism, transport, connectivity, low carbon, infrastructure, skills and inclusion.
Speaking before the event, Cllr Farmer said: ‘This deal represents real change for our people and promises an even brighter future for the youth of the region.
'It will provide jobs and investment to our core industries and sectors, and will also target the challenges our communities face in reaching their potential.
'A prosperous future lies ahead thanks to this deal and I look forward to working with all our partners to deliver the transformational change promised by this landmark investment.’
