Tayside and Central Scotland

New £63.8m investment boost for Dundee Waterfront

Dundee Waterfront Image copyright Dundee Waterfront
Image caption More than £25m of the funding will redevelop civic spaces at Discovery Plaza and Waterfront Place

The Scottish government has pledged £63.8m to boost Dundee's Waterfront economy and create jobs.

The money will include funding improvements to Dundee Railway Station and creating 4,500 sq m of new office space.

Development of the V&A Museum and digital infrastructure will also benefit from the funding.

The Scottish government funding was announced ahead of a jobs summit in the city.

The money has been made available through the Growth Accelerator Model (GA), developed by the Scottish Futures Trust, and is designed to stimulate growth, create jobs and support businesses through a combination of public and private sector investment.

The funding was announced by Deputy First Minister John Swinney, who will attend the jobs summit.

Civic spaces

Mr Swinney said: "Today's package includes £13m for the Dundee Railway Stations concourse in addition to the £4.3m wider station development and £3m to establish a future-proofed digital corridor to assist the city's world-renowned games industry and provide a competitive digital solution to support economic development.

"We are also providing up to £20m to further support the development of the V&A and over £25m to redevelop the two civic spaces at Discovery Plaza and Waterfront Place."

The funding is paid over 25 years and is linked to the council reaching agreed targets and outcomes.

Dundee City Council leader Ken Guild said: "Today's announcement is the key to unlocking increased funding for one of the most exciting and innovative projects currently going on in Scotland.

"In the past two weeks alone we have had more than £70m of such investment announced in the wider Waterfront regeneration project and Dundee Port.

"Right now there is an unprecedented level of investor interest in Dundee and this announcement will help to reinforce that."

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