SOSE investment to help kickstart next phase of Borders Innovation Park
A £3million investment by South of Scotland Enterprise (SOSE) aims to help unlock the potential of the Borders Innovation Park in Tweedbank.
SOSE’s award supports Scottish Borders Council (SBC) to take forward the next phase of this key development, which aims to provide new inward investment opportunities for business, as well as new higher paid jobs.
The development will also sit alongside new housing and a care village for older people that will be developed as part of a larger regeneration project for the area.
The Innovation Park is to be situated next to Tweedbank Station and also in the current Lowood Estate and is predicted to ultimately create around 350 jobs. The project has an estimated Gross Added Value for the Borders economy of over £200m.
SOSE’s £3m investment over three years will provide a new access road through the Lowood Estate, road connection to Tweedbank Railway Station and almost 400 square metres of hybrid work units and commercial space.
The Borders Innovation Park project is being led by SBC and the Edinburgh and the South East Scotland City Region Deal. The development is part of the Council’s overall Tweedbank Masterplan which aims to create a high-quality place to live, work and invest.
SBC have already completed phase one of the Innovation Park, with the creation of the Inspire Learning Centre beside Tweedbank Railway Station.
Professor Russel Griggs, Chair of SOSE, said:
“SOSE is committed to working with our partners to help create a stronger rural economy, with the Borders Innovation Park playing a significant role in achieving this aim.
“The Innovation Park has community ambition at heart of it and can help the Scottish Borders become a more competitive location, able to attract new investment and support existing businesses to thrive, grow and fulfil their best potential.”
Councillor Scott Hamilton, Executive Member for Community & Economic Development, said:
“The announced funding from our partner SOSE is extremely welcome news and helps fund a critical next step in the development of the Borders Innovation Park at Tweedbank. The site has incredible potential and will help to transform our area’s economy by tapping in to nearby transport links like the Borders Railway and attracting new workers, homeowners, businesses and visitors to the region.
“All of this together will help stimulate new rural economic growth whilst delivering lasting benefits to the wider region.”
More information
Edinburgh and South East Region Deal
- The Edinburgh and South-East Scotland City Region comprises six local authorities – Edinburgh, Fife, West Lothian, Midlothian, East Lothian and Scottish Borders.
- A City Region Deal is a mechanism for accelerating growth by pulling in significant government investment.
- By investing this funding in innovation, skills and infrastructure, performance will be significantly improved, and we will tackle inequality and deprivation.
- The six local authorities that make up the Edinburgh and South East Scotland City region, together with regional universities, colleges and the private sector signed a City Region Deal with the UK and Scottish Governments, with a value of over £1.5bn.
- More information is available