Regeneration project gets £19m cash boost
Forthside site plans expected to create 1000 jobs
A scheme to regenerate a Stirling brownfield site which is expected to create more than 1000 jobs this week received a £19million funding boost.
The plans for the former MOD site at Forthside, covering 35 acres, have been described as ‘once in a generation’.
The Stirling scheme is among 10 across Scotland to receive cash from the UK Government’s Levelling Up Fund.
Stirling Council leader, Labour’s Chris Kane, said: “Securing this substantial funding for the development at Forthside is fantastic news for Stirling and the wider economy.
“The funding will enable the transformation of a key area close to the city centre and major transport links, unlocking opportunities for local businesses and inward investment that haven’t been seen in Stirling for a generation.
“Regenerating this prime under-utilised site is expected to create 1000 additional jobs and deliver enhanced sustainable transport connections between the city centre, our communities and the wider region.
“This major funding boost also supports the delivery of the Stirling and Clackmannanshire City Region Deal by providing attractive space for business growth and builds on the significant success of Kildean Business Park, headlined by M&G’S investment of over £20m in new office accommodation.”
In a paper presented to councillors last year Stirling Council’s head of economic development and culture Stuart Oliver said the development of the Forthside MOD site would unlock “a significant mixed use development opportunity” which “has not been realised in Stirling for a generation and is expected to create over 1000 additional jobs in support of the growth of high technology and creative sectors, with international ambition”.
Conservative Mid Scotland MSP Alexander Stewart said this week: “I am absolutely delighted that the UK Government have given the green light to this major project in Stirling and I strongly welcome the millions of pounds that have been committed to ensuring that happens.
“The money received from our Levelling Up Fund is a perfect example of enabling major projects such as Forthside to go ahead, when otherwise it could easily have remained a pipe dream.”
Stirling Council SNP leader Scott Farmer this week welcomed “such a significant investment coming from the Levelling Up Fund”.
But he emphasised that the Forthside land was “not developable” in its current condition due to “significant contamination” and expressed concern that the £19m could be “swallowed up” in costs to remediate the site.