Tay Cities Deal ‘to be completed in weeks’

Forum hears how up to £1bn of investment will be injected into Tayside and north Fife in coming years

The Tay Cities Deal is two months from completion, one of the leading proponents of the project has revealed.

Two years in the making, the deal would see up to £1 billion worth of investment injected into the Dundee, Perth, Angus and north Fife economies in the coming years.

The announcement was made during a speech at the Dundee Economic Summit by DCT Media executive chairman Ellis Watson, who served also as chairman of the Tay Cities Enterprise Executive.

Taking place yesterday at the Gardyne Theatre, the forum was attended by business leaders, civic heads and budding entrepreneurs exploring the economic realities facing Dundee.

Mr Watson, who presented a talk to more than 240 attendees on building a strong Tay Cities regional economy, explained as much as £380 million would be inwardly invested by the council and its partners.

It is hoped at least another £700m of investment will come from the UK and Scottish governments.

Mr Watson said: “The city deal has been assembled over the last two years

The deal will be a long-term investment to deliver a long-term economic future. ELLIS WATSON

and will be completed in the next two months.

“The deal will be a long-term investment to deliver a long-term economic future.

“It is not a handout but an investment worthy of us – to give the region the tools needed to make improvements.

“Our ambition is to deliver as much as possible but it is highly unlikely we will get it all in one go.

“Half will come from the Scottish and UK governments, the rest from local governments in the region and private businesses.

“We in the private sector need to do a lot more. This will be one of the single biggest investments the city has ever had.”

Council administration leader John Alexander said the Cities Deal coming to fruition would be one of the economic benefits coming in the next year.

He said: “The Cities Deal will be concluded this year and will help us tackle the social ills Dundee faces.”

It is hoped the Tay Cities Deal will provide as many as 15,000 job opportunities over the course of the coming decade.

Projects including the Tayside International Aviation Academy, oil and gas decommissioning and a revamped cruise terminal have all been put forward as part of the deal.

During yesterday’s forum, attendees heard from V&A Dundee building project director John Tavendale and Tim Reeve, deputy director and chief operating officer of the V&A in London.

Mr Reeve praised the city for its regeneration, saying it had transformed beyond recognition since his first visit in 2013.

Picture: Gareth Jennings. Attendees at the forum were handed sunglasses and urged to post selfies.