Scotland’s First Minister Nicola Sturgeon and UK Prime Minister Theresa May will on Tuesday formally sign off on the £1.3 billion Edinburgh and South East Scotland City Region Deal.
The Scottish Government said the deal “will deliver inclusive economic growth across the region through housing, innovation, transport, skills and culture.”
The Scottish Government and the UK Government will each invest £300 million over the next 15 years.
Sturgeon said: “Edinburgh and the South East of Scotland is an area of huge importance to the Scottish economy.
“The region contains over a quarter of Scotland’s population and contributes £33 billion to the Scottish and UK economies.
“The Scottish Government’s £300 million investment in the City Region Deal will contribute towards 41,000 new homes, 21,000 jobs and improve the skills of an estimated 14,700 people across the region.
“Our investments will ensure businesses and communities from across the region benefit from the opportunities created by this the city region deal.
“Taken together these projects will help the region continue to thrive and grow, fulfilling our ambitions for the region to be one of the fairest and most inclusive areas in the country.”
May said: “Alongside the Scottish Government and local partners, I will be confirming £300 million, as part of a wider £1 billion investment by the UK Government through City Deals in Scotland, to create jobs and open up new economic opportunities throughout the nation.
“These City Deals build on existing strengths to open up new possibilities for the future in Scotland and the whole of the UK as part of our modern Industrial Strategy.
“Today I have also announced a further £13 million for investment in six science centres in the UK, including Dundee and Glasgow, to drive innovation in science and technology.
“As we leave the EU, the UK Government is working in partnership with business, academia and the devolved administrations to create more good jobs and spread economic prosperity across the country.
“By making the most of our country’s assets and the talents of all of our people, we can build a brighter future for the whole UK.”