Growth deal worth £150m set to boost Falkirk and Grangemouth

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The UK and Scottish governments have signed a nearly £150 million growth deal to boost the economy in Falkirk and Grangemouth, aiming to create 1,000 jobs over the next decade.

The deal, signed on Thursday, is projected to bring up to 1,660 jobs and generate £628 million in economic benefits for the region. It includes 11 key projects, such as a carbon dioxide utilization center and a bioeconomy accelerator pilot plant in Grangemouth.

Additional initiatives feature a new canal center and workshop in Camelon, a skills transition center at Forth Valley College in Falkirk, and the redevelopment of unused land at three Grangemouth sites to attract further investments.

An extra £10 million from the Department for Energy Security and Net Zero will support future energy projects in Grangemouth, while the Scottish Government has committed £10 million to the Greener Grangemouth program.

Falkirk Council will contribute £45 million, and Scottish Canals £3.7 million, bringing the total growth deal investment to £148.7 million.

The agreement was signed at Falkirk's new Rosebank Distillery by Scottish Secretary Ian Murray, Deputy First Minister Kate Forbes, and Falkirk Council leader Cecil Meiklejohn.

The deal follows news that Grangemouth's oil refinery will close next year, potentially impacting up to 400 jobs as the site transitions to an import-only terminal.

Ms Forbes 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 £50 million 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.”

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Mr Murray said: “The signing of this deal shows our commitment to the Falkirk and Grangemouth area as it delivers £50 million in UK Government funding. It is part of the £1.4 billion the UK Government is investing in Scottish growth projects over the next decade.

“Growth is a key mission for the UK Government and a top priority of the Scotland Office. Our funding, coupled with investment from the other partners, will drive renewal and generate more than 1,000 jobs and hundreds of millions of pounds of economic benefits for these communities.

“The area’s economic potential is huge and I look forward to seeing this and many other examples of partnership working deliver growth for Scotland.”

Ms Meiklejohn said: “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.”

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