Funding of £21m assigned to regeneration projects by government

Funding of around £21m has been announced for projects aimed at regenerating parts of the west of Scotland.

A total of £16m will go towards the development of 120,000sqft of waterfront office space in Dalmarnock, Glasgow, safeguarding around 300 construction jobs.

The Clyde Urban Gateway Regeneration Company will receive the cash for a development which is hoped will act as a catalyst for growth in the area.

A further £5.2m has been granted to Irvine Bay Urban Regeneration Company with the money going towards turning a derelict building in the centre of Ardrossan into a medical centre, an office park in Irvine and industrial units in the town.

The funding comes after the Scottish Government received extra money as a knock-on effect from UK spending decisions. The SNP administration pledged to start a building boom with the extra £205m made available through the Chancellor's autumn budget statement.

Announcing the funding on Thursday, Deputy First Minister Nicola Sturgeon said investment in regeneration projects is "absolutely imperative in tough economic times" and that the projects would make a "substantial difference" to their communities.

She added: "The UK Government has, in part, listened to our message that more capital investment is needed if we are to stimulate growth in our economy. The money provided as part of the autumn statement has reversed at least some of the cuts Westminster made to our capital budget. We are determined to inject these funds into our economy as quickly as possible, as demonstrated by today's announcement, to provide the stimulus for growth we know is vital.

"This Government is determined to support opportunities for new business to help create new jobs and also encourage inward investment to Scotland. That is why we have selected these four projects in the west of Scotland to benefit from additional funding. These projects will make a substantial difference, supporting jobs and growth in the short term as well as providing a lasting legacy for the communities involved.

"We are clear about the contribution regeneration makes to growing Scotland's economy, creating jobs and prosperity and improving the life chances of Scotland's people."

Neil McDonald, chairman of Clyde Gateway, said the cash would "allow us to make a prompt start on the first of what will become a number of major office developments within the national business district in south Dalmarnock and Shawfield which is so important to our long-term success".

He added: "I am confident that this particular office, being of such a high quality and in a fabulous waterfront location, will generate huge interest and attract a significant and influential anchor tenant."