ri news

ri Awarded £900k Regeneration Capital Grant


Above: Bakers Brae/Drumfrochar Road

Riverside Inverclyde has been successful in securing a major award from the Scottish Government's Regeneration Capital Grant Fund (RCGF).

Subject to technical checks being satisfactorily completed, £900,000 has been approved for a Riverside Inverclyde Community Enterprise Hub at Bakers Brae/Drumfrochar Road. The Community Enterprise Hub will deliver quality local employment space that supports SME, micro businesses and business start-ups to encourage local employment. The Hub will specifically focus on developing and increasing the capacity of the modest food and drink sector in Inverclyde.

The Community Enterprise Project will be a £1.8M project with Riverside Inverclyde contributing £600,000 and Inverclyde Council £300,000 (subject to approvals) to jointly match fund the RCGF award.

Riverside Inverclyde Board member and Inverclyde Council's vice-convener for regeneration Councillor Jim Clocherty said:

"This is very welcome funding to support a project which will help to deliver a new community enterprise hub. Small businesses are the lifeblood of the economy and it is important that we do what we can to help them to start-up and grow. Of particular interest with this new development is the opportunity to support the food and drink sector in Inverclyde which has potential to be an area of real growth and opportunity."

The award to Riverside Inverclyde for Broomhill is one of 29 projects that have been awarded funding for 2017/18. The Regeneration Capital Grants Fund is a joint Scottish Government and COSLA investment programme which supports projects in disadvantaged areas that engage and involve local communities.

In announcing the award on 9 March 2017 with COSLA's spokesperson for Development, Economy and Sustainability Cllr Stephen Hagan, Scottish Government's Local Government Minister Kevin Stewart said:

"I am delighted that 29 fantastic locally-driven projects will benefit from this major injection of funding. Spanning the length and breadth of the country, they will help regenerate local areas, stimulate economic growth and create jobs.The RCGF continues to go from strength to strength and the successful projects announced today reinforce local authorities commitment to regenerating their local communities for the benefit of local people."

The Community Enterprise Hub project supports a key part of the wider Central East Masterplan / Broomhill Masterplan and Town Centre Strategy, and the regeneration objectives of employment and small enterprise opportunity within local communities. 

The RCGF funding adds to the £3.1m already allocated by Inverclyde Council and Riverside Inverclyde for the road re-alignment project as part of the broader regeneration activities being led by River Clyde Homes in making Broomhill a more vibrant community.