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Search the Public Notice PortalMORE than £3.7 million of Scottish Government money will be used to build eight new business units in Cowdenbeath.
The cash, from the Regeneration Capital Grant Fund, was announced last week with Fife Council and the Coalfields Regeneration Trust (CRT) working together on the project.
The latter will build and then lease the new units on the Glenfield Industrial Estate to small businesses with the aim of bringing more jobs and opportunities in the town.
It's a significant investment and Shaun O’Brien, managing director of CRT Property, said: “This contribution towards our Cowdenbeath development will help ensure that we are able to continue supporting Scottish coalfield communities with the social and economic challenges they face.
“We look forward to sharing more details about our plans with the local community in the near future.”
The government funding will go towards the construction of 51,500 square feet of business space on a vacant site at the industrial estate, which is to the north of Cowdenbeath and home to a number of firms, including Graham’s Dairy.
This will include eight small business units of between 4,000 to 16,500 sq ft which will be available for lease.
The income generated will then be used to fund the CRT's work in Scotland to support communities to tackle unemployment, poor health and low skills.
The council said the modern, high quality premises will deliver a "positive contribution towards the mix of available business space within the area".
A statement added: "This will help businesses establish and flourish within the Cowdenbeath area, supporting the creation of local jobs and opportunities for the community."
Plans for the site were submitted in November last year.
As well as industrial/starter units they include a substation, parking, access and associated works.
A statement said the plans would bring a “significant environmental, economic and social improvement” for the local area.
The government funding of £3,756,638 was secured by Fife Council for 50 per cent of the project.
The other 50 per cent is being provided by CRT Property Investments Ltd, which is owned by CRT.
They are a leading regeneration organisation dedicated to improving the quality of life in Britain's former mining communities
Ahead of the Scottish Parliament being dissolved for the forthcoming elections, Deputy First Minister Kate Forbes outlined 32 projects across Scotland which will benefit from the latest round of the £36m Regeneration Capital Grant Fund.
The proposals are expected to support more than 1,200 new jobs and 800 training opportunities as well as bringing 21 disused or derelict sites back into use.
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