Businesses across West Dunbartonshire area being encouraged to submit project funding bids as part of the £160million Glasgow City Region Investment Zone.
The programme which was announced last year took a major step forward this week with an open call launched for eligible businesses to sign up.
The Investment Zone will benefit from investment, tax reliefs and other incentives over ten years for a package of projects which will boost the innovation economy.
To be eligible to bid for funding through the open call, business must fall within three key sectors being:
· Life Sciences
· Advanced Manufacturing and Precision Engineering
· Digital and Enabling Technologies
It is estimated that there are around 500 businesses in these sectors within Glasgow City Region’s eight council areas, including West Dunbartonshire.
Project bids must also be able to provide at least 60% of the funding which would then be matched by 40% of public funding in capital/revenue investment or tax incentives through the Investment Zone.
Projects within the Region’s investment zone are not necessarily bound within a bespoke geographical area but they must be based either now or in the future within the perimeter of the region. Bids should be submitted through a new online portal at https://gcrinvestmentzone.co.uk/ by 5pm on 31st March 2024. The application form requires details of what the project will deliver, how it will be delivered and the match funding.
Once bids have been reviewed and assessed, the final phase of the GCR IZ process will involve the collation of the region’s formal proposal, including the package of projects, for consideration and approval by the UK and Scottish Governments.
West Dunbartonshire Council leader, Councillor Martin Rooney said: “There are a range of businesses which operate in West Dunbartonshire now which could tap into this funding. Being part of the Glasgow City Region Investment Zone could be a massive driver for our local economy and I would encourage West Dunbartonshire companies who meet the criteria to seriously consider making a bid.”
Convener of Infrastructure, Regeneration and Economic Development, Councillor David McBride said: “This is an important step forward in the Glasgow City Region Investment Zone programme which could reap huge benefits for West Dunbartonshire. I look forward to seeing how this progresses and hope that businesses within the area will consider submitting a project bid.”
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Note to editors
1. Contact Lorraine Weir West Dunbartonshire Council, on tel: 07909901083 or email: Lorraine.weir@west-dunbarton.gov.uk
2. West Dunbartonshire Council serves 89,000 residents and a lively business community in an area stretching from the banks of Loch Lomond to the shores of the Clyde. The region is one of great diversity and natural beauty, just half an hour from the heart of Glasgow, and includes the towns of Clydebank, Dumbarton and Alexandria. It has a rich past, shaped by its world-famous shipyards, and boasts many attractions, ranging from the rugged beauty of Dumbarton Rock to historic whisky warehouses. The Council has big ambitions to deliver first class services, grow the local economy, revitalise the region’s town centres and waterfront, and provide a modern education service for future generations.
