The long-awaited formal signing of the Tay Cities Region Deal by leaders from Perth and Kinross, Tayside and Fife took place at an online ceremony on Thursday (December 17).
The £700m programme is an agreement between the UK Government and Scottish Government, the Perth and Kinross, Angus, Dundee City and Fife councils, and the business and higher and further education sectors.
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The two governments have pledged £300 million which will help to lever a further £400 million of investment to create “a smarter and fairer” city region with over 6000 new job opportunities.
Among the key commitments in the deal are: £62 million to the Invergowrie -based James Hutton Institute to deliver world-leading barley research and advanced plant research facilities; £37m for a regional cultural and tourism investment programme and £25m for growing the Tay cities biomedical cluster.
The signing of the deal also dedicates £10 million to the Perth City Hall project and could bring forward an announcement on the fate of the Stone of Destiny.
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Leader of Perth and Kinross Council, Councillor Murray Lyle, said: “I’m very happy to be signing the Tay Cities Deal on behalf of Perth and Kinross Council and welcome the next steps in moving forward with the delivery of the deal across Tayside and north east Fife and the benefits it will bring to everyone who lives and works in Perth and Kinross.
“Through this deal, we are able to support a number of exciting projects in ways that we have not been able to before and the implications of this are exciting and positive for the area.
“Investing in cultural attractions such as Perth City Hall for example, improves facilities for people living in Perth and Kinross as well as attracting visitors and boosting the local economy; and the two projects being funded at the James Hutton Institute at Invergowrie are of international importance in responding to climate change.
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“The projects being supported will allow us to diversify and succeed in ways that will raise our profile as a region for excellence and help secure our long-term economic future.”
Perthshire North MSP John Swinney said: “Whilst this deal has been subject to significant delay, I am delighted that it has finally been signed.
“The Tay Cities Deal will deliver significant investment and unlock new job opportunities across Perthshire.
“This is particularly welcome, given the scale of the challenge we face to rebuild the local economy in the aftermath of the COVID pandemic.”
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Scottish Government cabinet secretary for transport, infrastructure and connectivity Michael Matheson, added: “I am delighted to sign the Tay Cities Region Deal and confirm our £150 million investment at a time of unprecedented need.
“The commitments we have made with our partners today will help deliver sustainable, inclusive growth in the region through funding for skills, connectivity and innovation, and make a crucial contribution to economic recovery.”
