Forth Green Freeport submits business case
- Admin
- Sep 12, 2024
- 1 min read
Forth Green Freeport (FGF) in Scotland has submitted its Full Business Case (FBC) to the Scottish and UK governments. This is a “major step” in the development process towards unlocking around £25m of seed funding capital to address the key underdeveloped sites within the FGF area and deliver “major economic benefits” for Scotland. The FBC submission will now be reviewed by both Governments. The projects which have been identified for development to attract inward investment will then begin. FGF became operational on 12 June 2024 and is set to attract new businesses and new jobs into Burntisland, Grangemouth, Leith, and Rosyth, aided by a suite of financial incentives to deliver real benefits for Scotland and the UK. A detailed economic impact assessment has projected that it will generate £7.9bn of private and public investment over the next decade and boost GVA (gross value added) by £8.1bn. This investment is projected to create up to 34,500 well paid, highly skilled, green jobs, with around 16,000 of these being direct employment in the FGF’s target sectors and tax sites.
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