Up to 1660 jobs and £628m worth of economic benefits are expected to flow into the area as a result of the delivery of the Deal which was signed on Thursday.

The agreement means 11 projects can be taken forward that include the development of a Carbon Dioxide Utilisation Centre and a Bioeconomy Accelerator Pilot Plant in Grangemouth; a new Canal Centre and workshop at Loch 16 in Camelon; a Skills Transition Centre at Forth Valley College, Falkirk; and the transformation of unused land at three sites in Grangemouth to create development-ready investment opportunities.

The £80 million Growth Deal is jointly funded from the UK and Scottish Governments and is complemented by a further £10m from the UK Government (Department for Energy Security and Net Zero) for future energy related projects in Grangemouth and £10m allocated to the Greener Grangemouth programme from the Scottish Government.

With Falkirk Council investing £45m and Scottish Canals investing £3.7m, the overall Growth Deal investment is £148.7m. The Growth Deal was signed at the new Rosebank Distillery in Falkirk by the Rt Hon Ian Murray MP Secretary of State for Scotland and Kate Forbes, Deputy First Minister and Cabinet Secretary for Economy and Gaelic, and Councillor Cecil Meiklejohn, Leader of Falkirk Council.

Kate Forbes, deputy first minister and cabinet secretary for Economy and Gaelic, said: “The Falkirk and Grangemouth region has a rich history with a strong industrial heritage, a proud community and significant tourist attractions.

“The Scottish Government’s £50m investment will deliver projects to ensure the area continues to thrive, bringing jobs, active travel links, future skills training and new arts and cultural spaces.

“The Growth Deal will support the region to grasp the opportunities of the transition to net zero and remain at the forefront of innovation and manufacturing in Scotland, complemented by a community-led programme of projects in Grangemouth.”

Councillor Cecil Meiklejohn, leader of Falkirk Council, added: “The Growth Deal is a turning point for our community, bringing jobs, investment, and sustainable development. We are proud to partner in this project, which will elevate Falkirk and Grangemouth as vibrant, connected, and forward-looking areas for residents, businesses, and visitors alike.

“It is one of a suite of programmes and major investment opportunities set for delivery in 2025. The Growth Deal Skills Transition Centre, Canal Centre and Falkirk Arts Centre will progress at pace in 2025, the Falkirk Tax Incremental Finance programme is already delivering results with projects such as the A9/Grandsable Road junction completed earlier this year, and the Forth Green Freeport now open for business and actively promoting investment opportunities in the area. It is an exciting time for the Falkirk Council area.”