Businesses in North Lanarkshire are invited to submit project funding bids for a £160 million Investment Zone to be created in the west of Scotland.
Glasgow City Region is one of two new Scottish investment zones to benefit from investment, tax reliefs and other incentives over ten years for a package of projects which will boost the innovation economy.
We have a number of prime sites which could be part of the Investment Zone, and we are encouraging businesses to come forward with potential projects.
To be eligible to bid for funding, business should be in three key sectors: life sciences; advanced manufacturing and precision engineering; digital and enabling technologies.
Project bids must be able to provide at least 60% of the project funding which would then be matched by 40% of public funding in capital/revenue investment or tax incentives through the Investment Zone.
“The Investment Zone offers significant opportunities for businesses to grow and prosper, for job creation, inward investment and economic development,” said Council Leader Councillor Jim Logue.
“We want North Lanarkshire to benefit from the advantages the Investment Zone will bring, and are keen to support businesses with ambitious, innovative ideas and projects that could bring the zone to the area.”
Bids should be submitted through an online portal by 5.00pm on 31 March 2024. For more information or to discuss bids, contact the council at BusinessSupport@northlan.gov.uk
Once bids have been reviewed and assessed, the final phase of the Glasgow City Region Investment Zone 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.