This item was published during the term of a previous administration that ended in April 2007
Listen
Funding for Inverclyde regeneration
05/03/2007
A £3.7 million investment package to help breathe new life into Inverclyde was announced today.
The funding will enable Riverside Inverclyde, the new Urban Regeneration Company (URC), to support a range of local projects.
Deputy Communities Minister Des McNulty said:
"Regeneration is at the heart of the Executive's programme for Scotland. It is about investing in economic growth and opportunity and transforming specific places for the benefit of the people who live, work and invest there.
"Excellent progress has been made by Riverside Inverclyde and its partners in the last year. I know that, given the scale of the challenges, we're in this for the long haul but this funding provides a very solid foundation.
"It sends out a key message to the public and private sectors - Inverclyde is now open for business.
"Today I am announcing £700,000 to take forward three key projects in Port Glasgow and Greenock, on top of the £300,000 already paid to Riverside Inverclyde this year.
"One of the projects is the removal of the James Watt Dock Wall to open up these impressive docks to the communities of Greenock and Port Glasgow once more.
"Others include landscaping the Arriva site to attract future investment; and, redevelopment of the upper floor of the Port Glasgow Town Buildings, one of the town's landmark sites.
"In addition we are making up to £3 million available next year for projects that build on the momentum already under way. This will be subject to the receipt of proposals from the URC in due course.
"These early projects are vital. But they are part of a much wider transformation we want to see - generating new life for the people of Inverclyde and generating pride and prosperity in which they can all share."
Bill Nicol, Chief Executive, Riverside Inverclyde said:
"We are delighted to welcome Des McNulty to Inverclyde to announce this funding. It will support various projects including the Port Glasgow Town Buildings to accommodate new, quality office space and environmental improvements along the A8 corridor.
"The investment demonstrates the Executive's continued commitment to the URC, our Business Plan and the regeneration of Inverclyde.
"Much of the groundwork has been done, the time is now right to focus on the delivery of the #400 million regeneration plan for the benefit of the people and businesses of Inverclyde."
Early Action Funding of £700,000 will be used to support three strategic projects in Port Glasgow and Greenock: removal of the James Watt Dock Wall to allow visual access to Inverclyde's waterfront once more; landscaping improvements to the Arriva site to create new development opportunities and improve the frontage of the A8 corridior between Port Glasgow and Greenock; and the redevelopment of the upper floor of the Port Glasgow Town Buildings to create much need office space and attract new business to the area.
This £700,000 early action funding is paid in addition to £300,000 start-up funding the URC received earlier this year, to assist in URC-establishment and business planning costs. This brings the total funding by the Executive for Riverside Inverclyde to £1m for 2006-07.
Ministers have also agreed to make up to £3 million available for 2007-08, on receipt of satisfactory proposals from the URC, to invest in local projects and maintain momentum. Ministers are still working with the URC and its partners on the long-term investment strategy for Riverside Inverclyde.