Project to develop new business units in Coldstream set to progress thanks to Borderlands funding

Scottish Borders Council gave the thumbs up to the full business case for a project to deliver three modern, highly energy efficient business units at Coldstream Business Park. This was then approved at a recent meeting of the Borderlands Partnership.

The project will deliver significant economic benefits, including the potential for nine jobs, and addresses a lack of modern, good quality and suitably sized units to support inward investment and business growth.

The £1.2million project is part of the Business Infrastructure Programme within the Borderlands Inclusive Growth Deal, which will bring £85million investment from the Scottish Government along with £65 million from the UK Government for various schemes.

The council is also progressing the development of a full business case for a similar project for new business units in Hawick.

Coun Scott Hamilton, executive member for community and business development, said: “Investment into local business infrastructure is critical to supporting and growing our local economy, and the planned investments into Coldstream and Hawick will tackle a shortage of business units and help to attract new businesses to the area, and also allow existing small businesses to grow.

“The Borderlands Inclusive Growth Deal is a huge opportunity for the Scottish Borders and our neighbouring authorities to take forward a range of exciting projects and investments and I am delighted at the continued progress being made.”