COUNCILLORS and the Borderlands Partnership have approved a business case aimed at securing investment from the Borderlands Inclusive Growth Deal for new business infrastructure in Coldstream.

At the end of last month, Elected Members approved the full business case for a project to deliver three modern, highly energy efficient business units at Coldstream Business Park. This was then approved at a recent meeting of the Borderlands Partnership.

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The project will deliver significant economic benefits, including the potential for nine jobs and addresses a lack of modern, good quality and suitably sized units to support inward investment and business growth.

The £1.2m project is part of the Business Infrastructure Programme within the Borderlands Inclusive Growth Deal, which will bring £85m investment from the Scottish Government, along with £65 million from the UK Government for projects in Scotland.

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The Council is also progressing the development of a full business case for a similar project for new business units in Hawick, which will also seek to draw down funding from the Borderlands Inclusive Growth Deal. The Council is committing £632,000 itself to the Hawick scheme.

Councillor Scott Hamilton, Executive Member for Community and Business Development, said: “Investment into local business infrastructure is critical to supporting and growing our local economy, and the planned investments into Coldstream and Hawick will tackle a shortage of business units and help to attract new businesses to the area and also allow existing small businesses to grow.

“The Borderlands Inclusive Growth Deal is a huge opportunity for the Scottish Borders and our neighbouring authorities to take forward a range of exciting projects and investments and I am delighted at the continued progress being made.”