summary of the report (PDF, 1MB) - My Future's in Falkirk

SUSTAINABILITY AND PARTNERSHIPThe Falkirk TIF initiative is a key step in thearea’s economic transformation and offerssignificant benefits to growth and jobcreation for the national economy.Projections for the economic benefits of theinitiative for the Falkirk area and the widernational economy over the 25 yearprogramme are substantial. The TIFinfrastructure investment programme wouldcreate some 5,800 construction jobs and isforecast to create a further 8,300 long termjobs and £415m annual GVA fromsustainable economic growth. Job creationand provision of training places will beintegral to these works. The TIF willstimulate development on 27 sites, aidtown centre regeneration and help in theattraction of over 300,000 tourists annuallyto the area.Importantly, the TIF is an expression of faithto renew the area’s infrastructure and toattract investment by multinationalcompanies in key sectors (manufacturing,chemicals and logistics) in the area. Thesesectors are vital to the health of Scotland’seconomy. The TIF also helps mitigate thepotentially adverse jobs impact that mightarise should major industrial employersmigrate from Grangemouth if theseinterventions do not occur.Every £1 of Council investment via TIF isprojected to result in £8.66 investment fromthe private sector. The opportunity for TIF inFalkirk to create a sustainable long terminvestment zone, with its own uniqueidentity to other parts of the UK lies at theheart of this business case. The Council isadvanced in its thinking and development ofa marketing and inward investment strategyto maximise this opportunity and willprogress this, adopting the message ‘MAKEIT. FALKIRK’, which respects the area’sstrengths in manufacturing.The TIF seeks to deliver:Investment in the local andnational road networkInvestment in Grangemouth’sflood protection schemeTargeted site specificinfrastructure investmentUnlocked and acceleratingdevelopment activityFALKIRK TIF: NEXT STEPSThe TIF is viewed as a once-in-a-generationopportunity to position the Falkirk area as azone for investment through the provision ofsustainable infrastructure, where theCouncil’s ambitions are matched by theprivate sector.The Council aims to act quickly. It isproposed that the Falkirk TIF goes live inApril 2013 with the commencement ofthe Junction 6 improvements as part of theM9 Corridor investment programme aswell as site-specific projects as part of theHelix project.Production. Business. Leisure. Logistics. Chemical Sciences.December 2012 / TIF Prospectus 15