A £1.3bn investment to unlock economic prosperity was agreed yesterday (Tuesday 7th August) for Edinburgh and the South-East of Scotland following the formal signing of a City Region Deal.
The Deal is an agreement between the UK Government, Scottish Government, the local authorities of Edinburgh, East Lothian, Fife, Midlothian, Scottish Borders, West Lothian and the region’s universities and colleges. There are also regional partners from the private and third sectors.
The UK and Scottish governments will invest £300m each over the next 15 years with other partners committing to an additional £700m. The £1.3bn investment is anticipated to generate over £5bn worth of Gross Value Added (GVA) over the Deal’s lifespan.
BiGGAR Economics worked closely with the University of Edinburgh to develop the economic case for investment in Data Driven Innovation as part of this City Deal and we are pleased to see that the signed deal includes £350 million for world leading innovation centres.
A summary of our economic analysis can be read below: