A £90m investment will be made in Falkirk to drive economic recovery.
The money, which will be contributed by both the UK Government (£40m) and the Scottish Government (£50m), will be invested in the region over ten years.
The funds will be targeted at economic development, which will include investment in infrastructure, transportation, innovation, energy transition and skill building.
It will also help support the region’s chemical manufacturing industry at Grangemouth, securing local jobs and driving innovation into low-carbon industries.
Economy secretary Fiona Hyslop said: “The Falkirk Growth Deal demonstrates our commitment to supporting the region and delivering long-term benefits to the local communities and businesses.
“We will continue to work with our partners in Falkirk and the UK Government, supported by our enterprise and skills agencies, to help them to consider proposals that will unlock investment and drive inclusive growth across the area, creating a fairer, greener and more inclusive wellbeing economy.”
The Falkirk growth deal is the 11th such deal in Scotland.
Scottish secretary Alister Jack added: “We know that City Region and Growth Deals will be vital to Scotland’s economic recovery from coronavirus.
“The Falkirk Growth Deal will enable the regional economy to innovate, boosting investment and providing sustainable, high-quality jobs.”