The Borders Innovation Park at Tweedbank will help deliver much needed high quality business space in the area, stimulate business growth and improve inward investment opportunities.

The report, which will be considered at a full council meeting on January 31, is a technical requirement, with approval then enabling the council to submit the final business case to the Edinburgh and South East Scotland City Region Deal joint committee. Subject to its approval, the business case will then be submitted to the Scottish Government to enable the £15m committed in the Deal to be released.

As part of the Borders Railway Blueprint programme, the council developed a Masterplan for Tweedbank, which included a number of ambitious ideas to encourage people to live, learn, visit and work in the Borders, as well as attract inward investment through public and private sector funding.

A key proposal was the creation of a Borders Innovation Park in Tweedbank, which will aim to create employment infrastructure to attract inward investment, new jobs to the area, and allow businesses to start, grow and move to a location with excellent transport links.

Councillor Mark Rowley, SBC’s executive member for business and economic development, said: “The Borders Railway has presented a once-in-a-lifetime opportunity which we, alongside our partners, are aiming to grasp.

“As part of our plans, the development of the Borders Innovation Park, thanks to not only the City Region Deal investment but that of the Council, our partners and the private sector, will help to deliver high quality, higher paid jobs which the Scottish Borders currently lacks.

“Work has already started on the demolition of Eildon Mill, with further work beginning at the Quarry site shortly.

“Alongside supporting the Borders Innovation Park, the City Region Deal will deliver other benefits for the whole of our area, including significant investment across the region in employability and skills, transport, housing, innovation and culture.”