This item was published during the term of a previous administration that ended in April 2007
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Washington regeneration project
07/04/2004
Finance Minister Andy Kerr will today take part in a ground breaking ceremony which signals the start of work on a massive regeneration development in a deprived area of Washington.
The Minister is in the US to promote Scotland to American businesses and to take part in Tartan Week celebrations.
The ground breaking ceremony for the Capitol Hill Tower project, in the south east of the city, kicks off work on this Public Private Partnership project that consists of commercial, residential and hotel developments on what was previously a naval and waterfront site. One hundred jobs will be brought to the area after construction is complete.
Washington's Deputy Mayor Eric Price will perform the ceremony with Andy Kerr, alongside representatives of the private partners, including the Bank of Scotland, the Valhal Corporation, and the Marriot Hotels Group. Mr Kerr said:
"I am delighted to be here to help kick-start this vital project that brings together new and innovative partnerships to redevelop this area of Washington into a thriving residential and commercial district.
"There are significant similarities between this project and the Clyde regeneration in Glasgow, therefore I'm very pleased to see for myself what can the public and private sector can do in partnership to restore waterfront sites like this one.
"I am particularly pleased that the Bank of Scotland, one of Scotland's leading financial institutions is involved. Scotland excels in financial services expertise and Scotland itself is a country that you can do business with."
While in Washington, Mr Kerr will also be visiting Georgetown Business Improvement District (BID) which is a partnership between the local authority and local businesses. It has successfully secured additional services and improved the general business environment of the area.
The Scottish Executive is committed as part of the Partnership for a better Scotland to establish BIDs to help promote conditions for long-term sustainable growth and to create a Smart Successful Scotland. BIDS have been successful in transforming areas like Times Square in New York, where massive improvements have been made to the area to the benefit of local businesses.
Mr Kerr said:
"The Georgetown BID is a hugely important project which has made massive changes to the area by tacking key areas such as transport, street maintenance and landscape. The results I can see today are very interesting indeed as they have made the area cleaner, safer and more accessible and ultimately created a successfully business district.
"BIDs in Scotland are a potentially powerful tool if they are developed in the right way. They can benefit city centres, town centres, industrial estates, business parks and anywhere where local authorities and businesses see an opportunity to stimulate economic growth, as I have seen for myself."