The economic development aspirations of Falkirk Council and its partners are part of a large scale economic review to outline a ten year plan for the area.

Councillors agreed to develop a new Economic Strategy and to carry out consultation with interested groups and organisations to help shape future economic priorities.

‘My Future’s In Falkirk’, the area’s existing strategy was last updated in 2010 to help the local economy recover from the economic downturn and recession.  Since then, there has been progress in many areas including business investment and support, infrastructure, reduction in unemployment and area transformation through Helix Park and the Kelpies.   

The new strategy aims to address emerging opportunities in topics such as internationalisation, manufacturing, logistics and energy where the Falkirk area has a competitive edge for businesses. 

The Tax Incremental Finance (TIF) project and a recently announced Energy Project for Grangemouth are bringing new opportunities to the area and the proposed strategy will help Falkirk Council, local communities and business to make the most of these.  

The 10 year strategy will include a mid-term review after 5 years to keep the plan up to date.

The review will be supported by the newly created Falkirk Economic Partnership which is made up from representatives from Falkirk Council, Scottish Government and Scottish Enterprise as well as local business representatives.

The new strategy will complement existing policies and plans in areas such as funding, tourism, planning and employability and will recognise the structural changes in the local economy since 2010.

Councillor Dennis Goldie, spokesperson for Economic Development said: “There have been some substantial changes in the local economy since we last reviewed our economic strategy for the area however we are looking to get the views of as many different interested parties as possible as we formulate our new direction for the next ten years”.

Initial discussions on the strategy will take place as part of the Falkirk Business Panel Update at Falkirk Town Hall on Wednesday 25 March 2015.

Progress reports and further consultation are planned and it is hoped to finalise the Economic Strategy in time for the Falkirk Business Panel Annual Conference in September 2015.