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

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

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<strong>Falkirk</strong> is one <strong>of</strong> <strong>the</strong> bestconnected areas <strong>in</strong> Scotland.60%<strong>of</strong> Scotland’s population iswith<strong>in</strong> a 60 m<strong>in</strong>ute journey.Key Pr<strong>in</strong>ciplesA programme <strong>of</strong> <strong>in</strong>terconnected<strong>in</strong>frastructure projects is proposed thatoperates on two dist<strong>in</strong>ct levels:Strategic – deliver<strong>in</strong>g vital <strong>in</strong>frastructure,<strong>in</strong>clud<strong>in</strong>g projects <strong>of</strong> national significance.This <strong>in</strong>cludes key road <strong>in</strong>frastructure on alocal and national network level, and vitalflood protection around Scotland’s most<strong>in</strong>tensive area <strong>of</strong> manufactur<strong>in</strong>g.Site-specific – unlock<strong>in</strong>g specificdevelopment sites through targeted<strong>in</strong>terventions <strong>in</strong> site-enabl<strong>in</strong>g <strong>in</strong>frastructure.The comb<strong>in</strong>ed programme <strong>in</strong>volves sevenstrategic <strong>in</strong>frastructure projects, with manyhav<strong>in</strong>g an <strong>in</strong>terl<strong>in</strong>k<strong>in</strong>g impact across <strong>the</strong> 27development sites identified <strong>in</strong> this bus<strong>in</strong>esscase. As such, <strong>the</strong> impact is considered <strong>in</strong> itsentirety across <strong>the</strong> TIF programme.Comb<strong>in</strong>ed with a clear delivery strategy, andclearly articulated <strong>in</strong> its market<strong>in</strong>g approach,this will provide an impact greater than <strong>the</strong>sum <strong>of</strong> <strong>the</strong> parts.The ‘but for’ test – TIF projects arepredicated on <strong>the</strong> pr<strong>in</strong>ciple that <strong>the</strong>developments (and <strong>the</strong>refore <strong>the</strong> economicbenefits) would not happen ‘but for’ <strong>the</strong>proposed <strong>in</strong>frastructure <strong>in</strong>vestment. Theconstituent elements <strong>of</strong> this complexproject satisfy this test on two dist<strong>in</strong>ct levels:Public sector – <strong>the</strong> proposed <strong>in</strong>frastructureprojects are considered vital for <strong>the</strong> areawith several hav<strong>in</strong>g been identified aspriorities under <strong>the</strong> Upper Forth Plann<strong>in</strong>gFramework and National Plann<strong>in</strong>gFramework 2 (NPF2). In addition, some <strong>of</strong><strong>the</strong>se projects have been ‘constructionready’for a number <strong>of</strong> years. The currentconstra<strong>in</strong>ts on public sector fund<strong>in</strong>g wouldsee <strong>the</strong>se projects <strong>in</strong>def<strong>in</strong>itely on holdwithout <strong>the</strong> specific <strong>in</strong>tervention <strong>of</strong> TIF.Private sector – <strong>the</strong> key <strong>in</strong>tention <strong>of</strong> <strong>the</strong><strong>Falkirk</strong> TIF is to enhance <strong>the</strong> area’scompetitive advantage as a bus<strong>in</strong>esslocation by correct<strong>in</strong>g key <strong>in</strong>frastructureshortcom<strong>in</strong>gs. This bus<strong>in</strong>ess case identifies27 specific development sites where privatesector development has ei<strong>the</strong>r completelystalled or its delivery timescale has beensignificantly and adversely impacted by <strong>the</strong>f<strong>in</strong>ancial crisis. Consequently <strong>the</strong> ‘but-for’test for subsequent private sectordevelopment is readily demonstrated <strong>in</strong> thisbus<strong>in</strong>ess case. Extensive formal consultationwith large employers <strong>in</strong> <strong>the</strong> <strong>Falkirk</strong> area wasan important part <strong>of</strong> <strong>the</strong> bus<strong>in</strong>ess case andpo<strong>in</strong>ts clearly to <strong>the</strong> potential to securecompetitive advantage and stimulateeconomic growth.The <strong>Falkirk</strong> TIF anticipates that <strong>the</strong> pr<strong>in</strong>cipal<strong>in</strong>frastructure <strong>in</strong>vestments will be led by <strong>the</strong>Council and will create assets on land ownedor acquired by <strong>the</strong> Council. Where land isnot currently <strong>in</strong> <strong>Falkirk</strong> Council ownership orcontrol, Scottish Government assistance willbe sought to aid <strong>the</strong> programme’s delivery(through jo<strong>in</strong>t fund<strong>in</strong>g, CPO or similarprovisions). Key stakeholders <strong>in</strong>clud<strong>in</strong>gTransport Scotland have been engaged <strong>in</strong><strong>the</strong> development <strong>of</strong> <strong>the</strong> bus<strong>in</strong>ess case andsupport its <strong>in</strong>tentions..Displacement – A requirement <strong>of</strong> <strong>the</strong>standardised TIF approach is to derive as<strong>in</strong>gle blended displacement rate toanticipate future NDR capture.The pr<strong>of</strong>ile <strong>of</strong> <strong>the</strong> proposed sectoraldevelopment is primarily <strong>in</strong> lowdisplacement <strong>in</strong>dustries. In particular, <strong>the</strong>Stakeholder survey has confirmed thatmuch <strong>of</strong> <strong>the</strong> chemicals sector and relatedsupply cha<strong>in</strong> <strong>in</strong>vestment would notrealistically be located <strong>in</strong> Scotland outside <strong>of</strong>this exist<strong>in</strong>g sectoral hub. The result <strong>of</strong> <strong>the</strong>above process was to derive a globaldisplacement rate for <strong>the</strong> project <strong>of</strong> 18.4%.December 2012 / <strong>Falkirk</strong> TIF Summary 07

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