Work will start in the autumn on construction of new industrial units on an area of derelict land in Motherwell.
North Lanarkshire Properties LLP (NLP) and North Lanarkshire Council, with support through the Scottish Government’s Regeneration Capital Grant Fund Programme, will create 14 modern, start-up units in Orbiston Street.
The partners received a grant of £1.74 million from the programme and will provide the remaining £611,724 to deliver the project.
NLP chairman Ian McNeill said: “This project will transform a piece of land that has been derelict for many years, providing good quality, accessible and affordable accommodation for local people to start up or grow their own business.
“It will support the ongoing regeneration of Motherwell town centre, and encourage economic development by creating new jobs and providing new business for local trades.
“I would like to thank the residents and businesses who responded to our consultation last year, giving us useful feedback and ideas for how best to develop this site.”
One of the units will be the base for an entrepreneurship partnership with New College Lanarkshire, providing rent free accommodation and grants to support students to establish new businesses.
The units are expected to be ready for lease by summer 2020, and businesses moving in will have access to a range of marketing, employability and entrepreneurial support from the council’s business teams.
The council is also to receive £3.25 million from the Scottish Government’s Town Centre Fund.
Councillor Allan Graham, convener of the Enterprise and Growth Committee, said: “We have ambitious plans for our town centres, transforming them into places where people live, work and socialise with improved housing and local facilities.
“This new investment from the Scottish Government is a welcome addition to the council’s long-term strategy to create town centres that reflect our lifestyles and contribute to a vibrant local economy.”