City Deal agreement signals green light for Edinburgh Innovation Park

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City Deal agreement signals green light for Edinburgh Innovation Park

Queen Margaret University and East Lothian Council have welcomed the confirmation of funding of £600 million from the UK and Scottish Governments, which, when taken together with contributions from partners, will result in an investment of more than £1.3 billion in the economy of the Edinburgh and South-East Scotland region.

Government funding of £30 million, being made available through the Edinburgh & South East Scotland City Region Deal, will contribute towards the development of Edinburgh Innovation Park on land next to the University campus, a joint development by East Lothian Council and QMU.

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An innovation hub will facilitate an expansion of the University’s existing Scottish Centre for Food Development & Innovation and will also provide flexible commercial space for small and medium sized businesses in the food & drink sector. Businesses will have ready access to the University’s expertise in the healthy food and drink product market, including the development of new leading-edge functional foods and reformulation of existing products. The innovation hub is expected to act as a catalyst for the further development of an innovation park, based broadly around the theme of food and drink, on a 52 acre site close to the University campus.

The University has worked closely with East Lothian Council to develop the proposal, and will continue to work together with the Council in a joint venture to deliver the innovation hub and the subsequent development of the wider innovation park. This will play a major part in the delivery of the two strategic goals set out in the Council’s Economic Development Strategy, that is, to increase the number of businesses in East Lothian with growth potential and to increase the proportion of East Lothian residents working in and contributing to East Lothian’s economy.

The innovation park will form part of a wider development of the land around the University campus, which will include a retail, leisure, and food & beverage Commercial Zone as well as up to 1,500 new housing units (including 375 affordable units) and a new primary school. The full development is expected to leverage in almost £400 million of private sector funding over a period of around 20 years.

Welcoming the announcement, Queen Margaret University’s Principal, Professor Petra Wend, said:

“The ability to set the University at the heart of a major hub for economic development in East Lothian, based around the University’s expertise in food and drink, was one of the key factors which influenced the University’s decision to relocate to East Lothian in 2007. The offer of City Region Deal funding will now allow the University, working in close partnership with East Lothian Council, to move forward with these plans, which are expected to bring almost 1,000 new jobs to the area in the first phase alone. The additional development planned on the land around the University campus, including the construction of new housing, will mean that the University will become part of a vibrant new community within the County”.

Other elements of the Deal benefiting East Lothian include a focus on developing skills and reducing barriers to employment. Support for an expanded affordable housing programme, with a specific focus on Blindwells, will allow more young people to continue to live and work in East Lothian and encourage more people to live and work locally. The Deal also signals improvements to the Edinburgh City Bypass and Sheriffhall roundabout which are used by many people living in East Lothian.

Depute Council Leader Norman Hampshire said:

“Growing the East Lothian economy and supporting local jobs is one of our top priorities as a council. That’s why we’re delighted with the signing of the City Region Deal.

“A huge amount of work has gone into developing and finalising a Deal and one which is good news for the county. It’s an excellent example of working together, with local authorities and partners such as Queen Margaret University, to secure a significant package of investment.

“The Food and Drink Innovation Campus at Queen Margaret University will support innovation and quality in the food and drink industry. A project of this nature is highly appropriate in Scotland’s food and drink county and we look forward to continuing to work closely with the university in taking the wider development forward.

“As well as improving employment prospects and transport infrastructure, the Deal will help to reduce inequalities across our communities. With its business and employability focus, the Deal will contribute to building an increasingly highly skilled workforce and will help reduce barriers to employment. Complementing the deal, a Regional Employability and Skills Programme will deliver better outcomes for all the region and particularly those people facing significant disadvantages to securing and sustaining meaningful, high quality employment.

“Improvements to the Edinburgh City Bypass and Sherriffhall roundabout will also have a positive effect on East Lothian’s economy by improving our transport links to Edinburgh and beyond.

“We will also directly benefit from an expanded affordable housing programme, with a specific focus on Blindwells, which will help to address the shortage of affordable homes we are facing. This will allow more young people to continue to live and work in East Lothian and encourage more people to live and work here – building both our communities and our economy.”

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By |2018-08-07T09:07:25+00:00August 7th, 2018|Business News, Edinburgh, Food & Drink, Funding, National, Property News|Comments Off on City Deal agreement signals green light for Edinburgh Innovation Park

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