Laura Sharman 14 August 2015

Scottish councils urge businesses to back £1bn City Region bid

Scottish councils urge businesses to back £1bn City Region bid image

A £1bn City Region deal is being developed for Edinburgh and South East Scotland in a bid to accelerate economic growth in the region.

Business leaders are being urged to back the proposal by the councils involved, who say it will act as a mechanism for accelerating investment in infrastructure, skills and innovation, as well as generating enough income to pay back the initial investment.

Leader of the City of Edinburgh Council, Andrew Burns, said: ‘In shaping this deal, we want to build on our strengths, whilst tackling persistent inequality and other constraints that threaten to hold the region back.

‘I am very conscious that as visitors flock into Edinburgh for the summer festivals, for example, we must act to secure the investment required to embrace and build on our cultural success, and put culture centre stage in our growth plans.’

The proposal, which aims to leverage an additional £3.2bn worth of private sector investment into the region, will be presented to business leaders at a special meeting 17 August. The bid will be submitted to the Westminster and Scottish governments in early September.

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