The TIF Project was developed by Scottish Futures Trust (SFT) and enables the council to retain a proportion of Non-Domestic Rates in a defined area, to finance investment in local infrastructure. Argyll and Bute is just one of four local authorities in Scotland with a TIF project and this extension is part of an agreement between the council and the Scottish Government last month, supported by SFT.

Council Leader, Councillor Jim Lynch, said: “This extension reflects the economic headwinds in recent years that have resulted in a slower pace of development. The extension is great news for the Lorn Arc Project and our communities, and will help to create jobs and bring private sector investment to the Oban and Lorn area.”

Plans to establish a new business park at Oban Airport are already underway following an agreement by the Full Council in December 2024 to invest £7.25 million to develop additional roads, infrastructure, and utilities.

This will initially see a phased development of two commercial buildings, the first of which should be delivered by early 2026. The council is also in discussions with other businesses which will ultimately lead to further development at the business park, focussing on aviation, engineering, and logistics. It will also open up employment opportunities and provide a welcome boost to the local economy.

In addition, progress is ongoing to bring forward the long-planned Halfway House Roundabout in tandem with the next housing phase and commercial development at Dunbeg. This development will potentially see more than 400 additional houses at Dunbeg, and a new commercial development to be built adjacent to a new roundabout on the A85. Facilities could include, for example, a hotel, drive-through food outlets, possible park and ride, and EV charging facilities. LINK are in the process of submitting planning applications for this development phase and it will be available for public comment shortly. 

If approved, this will have significant benefits within Dunbeg. It will create a secondary access to the village; help tackle the housing emergency by providing much-needed homes for people who want to live and work in the area; support the growth of the local Marine and Science Industry; improve the visitor offer; help improve accessibility, including new active travel routes; and help alleviate congestion.

It is estimated that the combined developments could add between £50m-£179m to the wider local economy.