The UK Government has confirmed it will commit £6m in funding support for expansion plans at the Scottish Event Campus (SEC).
Chancellor John Healey announced the funding in his Autumn Budget on Wednesday.
The cash will be used to support the delivery of the first phase of Destination SEC, which will transform the campus.
The 64-acre riverside campus in Glasgow includes the OVO Hydro, SEC Armadillo and the SEC Centre.
Phase one of Destination SEC will focus on the redevelopment of the car park at the front of the Hydro. The East Plaza and activation zone will provide a new outdoor events space.
Since the initial plans were unveiled in September, Destination SEC has received widespread support including endorsement from Glasgow City Council, the Scottish Government and other key stakeholders.
Dom McKay, CEO of the SEC, said: “This is extremely welcome news and a further endorsement from the UK Government of the vital role the SEC plays in underpinning Glasgow’s and Scotland’s position as a global events and conference destination.
“Today, the SEC generates more than £605m in economic value, welcomes 2.5 million visitors annually and supports 5,300 jobs.
“The UK Government’s £6m funding will help deliver the first phase of our plans to develop our Campus for the next generation.”
Scottish secretary Douglas Alexander said: “Glasgow built the stage for COP26 and the Commonwealth Games, and this investment will help build the next one.
“By backing the SEC’s ambitious expansion plans with a £6m commitment, the UK Government is helping to boost Scotland’s economy, create jobs, show the world Scotland means business, and ensure Glasgow remains a leading global events city.”
The SEC first opened its doors in 1985.
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