The Place Principle adopted by the Scottish Government and COSLA earlier this year advocates a cross sectoral place based approach that works together and with local communities.
It provides a context in which, collaborative local partnership working can thrive and seek to operate in a more co-ordinated, integrated way to improve outcomes for local people and create better more successful places.
Town centres are facing significant challenges, including that of rapidly evolving retail patterns. The Scottish Government supports and invests in town and neighbourhood centres so that they can become thriving, vibrant, creative, enterprising and accessible places where people and communities live, work and enjoy. Working with partners such as, Scotland’s Towns Partnership, who provide information, support and services which contribute to the vibrancy, vitality and viability of our town centres, the Scottish Government are actively supporting Business Improvement Districts (BIDs). BIDs are part of a town, tourism and visitor area, commercial district, or specific theme (such as food and drink), in which businesses work together to invest in agreed local improvements.
A number of funds and projects have been established to assist with economic regeneration.
Vacant & Derelict Land Fund (VDLF) Established in 2004 to stimulate economic growth, create jobs, promote environmental justice and improved quality of life and support communities to flourish and tackle inequalities in Scotland’s most disadvantaged areas by tackling long term vacant and derelict land.
Regeneration Capital Grant Fund (RCGF) Delivered in partnership with COSLA, the RCDF supports locally developed place-based regeneration projects that involve local communities, helping to support and create jobs and build sustainable communities. Since the first round of RCGF funding (financial year 2014-15) over 136 projects across Scotland been offered grant support totalling over £138m. In total, these projects in receipt of grant offers were anticipated to:
Support or create 7114 jobs
Create 139,589 sqm of business space
Benefit over 2279 business enterprises
Support over 400 community services including e.g. upskilling and employability support
Scottish Partnership for Regeneration in Urban Centres (SPRUCE) An evergreen fund originally co-financed with £50 million from the SG and EU funds and managed on behalf of Scottish Ministers by the European Investment Bank (EIB), with investments made by an independent investment manager. It is now an established and successful investment vehicle that has provided over £87 million to 13 regeneration and low carbon projects, with many more in a healthy investment pipeline.
Clyde Gateway Established in 2007 by Glasgow City Council, South Lanarkshire Council, and Scottish Enterprise, and has been supported by funding from Scottish Government (over £155m to date). Scottish Ministers remain committed to funding Clyde Gateway for at least the remainder of this parliamentary term.