Tay Cities Deal
What is the Tay Cities Deal?
The Tay Cities Deal is a partnership between local, Scottish and UK governments, and the private, academic and voluntary sectors. Their vision is to make the Tay Cities region one of the most exciting, dynamic and desirable areas of Europe to live, work, invest and visit.
The Tay Cities region encompasses the local authority areas of Angus, Dundee City, Perth and Kinross, and the North East area of Fife. The region is home to almost 500,000 people (around 10% of Scotland’s population) and over 15,000 businesses, with a strong economic base and regional identity. It is home to world-class universities and many cutting-edge businesses.
What are the aims of the deal?
The deal will drive the region’s economy over the next 15 years. It will bring together public, private and voluntary organisations to deliver a smarter and fairer region.
The partners are clear that for the economy to thrive, they must achieve the following:
- grow their base of knowledge-led businesses
- create more, better-paid jobs
- support more businesses to trade internationally
- attract investment
- attract and retain talented people
- improve connectivity to, from, and around the region
- increase economic participation
- reduce inequalities
The partners signed the Heads of Term Agreement in November 2018. This agreement commits the UK and Scottish Governments to work collaboratively with the regional partners to deliver a deal that will transform the regional economy.
What is the level of investment?
The Scottish Government and the UK Government will each invest up to £150m in the Deal over the next 10-15 years. This investment has the potential to secure over 6,000 jobs and attract over £400m in investment to the region. The investment is subject to final approval of strong business cases for each project.
You can find out more by visiting the Tay Cities website.