Council leaders have formally signed the historic £700 million Tay Cities Deal.
After months of negotiation, the heads of terms were officially agreed at a ceremony in Perth this morning (Thursday 22 November).
The deal will finance more than 20 major projects across Tayside and Fife, creating more than 60,000 jobs. The projects to be funded include a regional culture and tourism investment programme and the University of St Andrews’ Eden Campus.
The Scottish and UK Governments have each committed to investing up to £150 million throughout a 10-15 year period, subject to the approval of ‘robust business cases’.
The investment also has the potential to lever in more than £400 million of investment over the next decade.
Representatives of the UK and Scottish Governments joined four council leaders and business chiefs at Perth and Kinross Council HQ for the signing.