Funding Plea For £70m Inverclyde Regeneration Sent To Government

A £70 million plan to revitalise and regenerate key areas of Inverclyde has been put to a senior government figure in a bid to attract vital funding.

Inverclyde Council leader Stephen McCabe and Greenock and Inverclyde constituency MSP Stuart McMillan, in their roles as co-chairs of the Inverclyde Socio-economic Taskforce, have appealed directly to Scottish Government minister Richard Lochhead MSP for cash to help get a number of projects off the ground to boost the area and the local economy.

Mr Lochhead, the minister for small business, innovation, tourism and trade, has been given details about eight key projects identified by the task force as priorities to regenerate the area and improve business opportunities, housing and skills.

The task force was the suggestion of former cabinet secretary for finance, Kate Forbes MSP, and was established by the council to bring together both governments and other key stakeholders to explore opportunities for inward investment to improve the area and make it a better place to live, work, visit, and do business. Both governments have ministerial involvement in the task force.

In their joint letter, Cllr McCabe and Mr McMillan have outlined ‘ambitious but very much achievable’ projects that would deliver ‘meaningful change’.

Proposals that have been tabled include additional funding to redevelop the Clune Park housing estate which is earmarked for regeneration, financial help to build more industrial and business units to complement existing facilities and deal with increased demand, and support for Inverclyde to become a special economic investment zone to reduce business rates and stimulate growth.

The projects

Business Premises

Project 1 – Expanding Kelburn Industrial Estate, Port Glasgow, which is full. Owners Riverside Inverclyde can borrow £5 million, but require a further £3 million to deliver a 55,000 sq ft solution.

Project 2 – Investment of up to £22million in Port Glasgow Industrial Estate to demolish the central core of 1960/70s buildings and provide alternative modern facilities to make it an attractive proposition.

Business

Project 1 – Business rate tax reduction for industrial estates.

Project 2 – Installation of a traffic light solution for the main A8 trunk road to allow efficient traffic movement.

Housing

Project 1 – Allocation of around £16 million so that the council can redevelop rundown Clune Park estate, Port Glasgow, with 80 to 100 mid-market rent homes.

Project 2 – Regenerating a section of Port Glasgow Town Centre at a cost of £25 million, to develop Port Glasgow Lower Quarter, with civic, housing and business premises creation.

Skills

Project 1 – A £1 million pilot project to bring some of Inverclyde’s 10,500 economically inactive people towards the labour market.

Project 2 – In-work training to upskill 100 people.

In their letter, the co-chairs said: “The potential for this area is significant and, with the correct support and investment, Inverclyde could deliver meaningful change for the benefit of residents and businesses and align with our shared goals of making Inverclyde an even better place to live, work, do business, and visit.

“The projects were developed through the Inverclyde Socio-Economic Taskforce. They are ambitious but very much achievable with the correct support and investment.”

Councillor McCabe said: “The task force was established at the request of the then cabinet secretary for finance and economy, Kate Forbes, to consider how the Scottish Government might assist Inverclyde in addressing the economic and social challenges we face.

“The expectation was that the government would look at funding proposals developed by the task force through existing funding streams rather than create a specific fund for Inverclyde.

“We are now looking to the Scottish Government to back the taskforce by providing funding for the projects we have identified.”

Information was sent at the request of Scottish Government officials who wanted greater details on the task force proposals.

Mr McMillan said: “Inverclyde is a fantastic place to live but we have some long-standing and deep-rooted challenges.

“The socio-economic taskforce has established many opportunities to help turn around Inverclyde’s fortunes.

“The various projects suggested are not an exhaustive list, but they are ambitious and deliverable and would provide lasting change for Inverclyde residents and businesses. They would also make Inverclyde a more attractive place in which to live and invest.

“Inverclyde can be a thriving community once again. It just needs the support to get it to that point and these projects can help deliver that.”