Councillor Jim Logue, leader of the council, hailed the investment as a “transformational step” in delivering a modern and thriving future for the area.

“This level of record-breaking funding is a transformational step to reshape North Lanarkshire and is like no other in Scotland,” said Councillor Logue. “We are ensuring that our communities benefit from high-quality schools, improved transport links and revitalised town centres, making North Lanarkshire the place to live, learn, work, invest and visit.”

The Strategic Capital Investment Programme 2024/25 to 2028/29 report was presented to councillors at a Policy and Strategy Committee meeting yesterday.

The report outlines how the investment is expected to generate significant employment and business opportunities. The programme will attract new businesses and investment into the area by improving infrastructure and town centres.

The investment plan includes:

• £347 million for new Town and Community Hubs, towards new projects in Abronhill, Glenboig and Ravenscraig
• £41m to improve schools, cultural spaces and leisure facilities, including a strategic review of swimming pools
• £95m for City Deal infrastructure, including the East Airdrie Link Road
• £45m for town centre regeneration, with a focus on redeveloping Cumbernauld
• £37m to improve roads, bridges and flood defences
• £18m for parks, including the redevelopment of Strathclyde Park Watersports Centre
• £23m for digital and business system upgrades
• £13m to support local Community Boards and community asset transfers.

A key part of the investment programme is the Community Investment Fund (CIF), which has allowed the council to unlock additional funding for local regeneration.

The fund is supported by a proportion of Council Tax increases and is helping to drive forward major projects that will benefit residents and businesses across North Lanarkshire.

In addition to the general capital programme, the council’s Housing Revenue Account (HRA) Capital Programme will see a further £829m invested in existing and new housing stock over the next five years.

This includes £539m for mainstream housing improvements, including modernisation, energy efficiency measures, and repairs as well as £290m for the council’s new supply housing programme, supporting the construction of high-quality, affordable homes.

Councillor Logue added: “This programme reflects our ambition to grow North Lanarkshire’s economy.

“We are creating thriving schools, stronger businesses, and well-connected communities. The Community Investment Fund plays a vital role in ensuring we can continue to deliver these improvements, providing a sustainable way to invest in our future.

“This is about long-term sustainability. We are laying the foundations for future generations while creating jobs and boosting local businesses today.”