Argyll and Bute Council has welcomed the announcement of a £50 million Rural Growth Deal as a “transformational vote of confidence” in the area.
The funding will be dedicated to transformational development projects — it cannot be used for day-to-day services.
The UK and Scottish Governments announced investment of £25 million each in Argyll and Bute.
Councillor Aileen Morton, Leader of Argyll and Bute Council, said: “This scale of investment is a transformational vote of confidence in the future of Argyll and Bute.
“This area has fantastic natural resources, an innovative, skilled workforce, and public and private sector organisations committed to its future success.
“However, to deliver the change needed to build our economy and with it a sustainable future for Argyll and Bute, we need significant investment.
“That is what we have achieved through our Rural Growth Deal.
“Our next step will be to work with the Scottish and UK Governments to prioritise how we put this investment to work for Argyll and Bute.”
The council said it has designed proposals to deliver success across Argyll and Bute, based on three key drivers:
• Attracting additional skills, training and learning opportunities, new residents, visitors and businesses
• Making more of its natural and built resources
• Connecting its high value business sectors with national and international business markets and its local economic successes with national strategic priorities
Councillor Gary Mulvaney, Depute Leader of Argyll and Bute Council, said: “Securing such significant investment is down to public and private sectors, and members of the public through consultation, working together for the future of Argyll and Bute.
“It is important to note that this funding will be dedicated to transformational development projects; it cannot be used for day-to-day service delivery.
“It provides a strong foundation for delivering rural growth deal priorities. This is great news for Argyll and Bute.”