£3.1M economic investment in North Lanarkshire

A £3.1M funding package has been announced for North Lanarkshire by Social Justice Secretary Alex Neil.

The funding will be invested in the development of new commercial units on a brownfield site at Strathclyde Business Park and is expected to create more than 130 jobs in the area.

The site received initial support through the Scottish Government’s Vacant and Derelict Land Fund and some £1.9M will come from the SPRUCE (Scottish Partnership for Regeneration in Urban Centres) Fund, as well as £1.2M from project sponsors Fusion Assets and CBC Glasgow Ltd.

Mr Neil said: “Significant investments like today’s £3.1M boost for Bellshill are central to stimulating economic growth across Scotland. Not only do they provide opportunities for new business and encourage entrepreneurs, they create new jobs.

“This investment will transform a disused brownfield site into modern business units, which we believe will become a thriving home for local companies. I am particularly pleased to see that our initial investment by way of the Vacant and Derelict Land Fund has paved the way for this exciting new development.

“Regeneration projects like these are absolutely fundamental when it comes to transforming our communities for the better.”

Murray Collins, Managing Director of Fusion Assets said: “The announcement of further SPRUCE funding for a second Fusion Assets project is a great achievement and something we are grateful for. This reflects our entrepreneurial approach to regeneration which successfully brings together public and private investment to create new employment opportunities.”

CBC Managing Director, James McAlpine, said: “We are delighted to be once again working in partnership with North Lanarkshire Council through Fusion Assets and the Scottish Government’s SPRUCE fund. It demonstrates how innovative forward thinking organisations in both the public and private sectors can deliver deals which buck the trend.”

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