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A financial package of over £1.2 million pounds was agreed today to help support the local economy recover from the devastating impact of COVID-19.

The additional funding will provide a much needed boost for the local economy, in particular, support for businesses, employment and town centres. 

The Covid-19 Economic Recovery Plan 2020-22, agreed in September, identified the need for additional resources required to help stimulate the local economy and  support businesses adapt to the challenges ahead.

The following economic recovery measures will be put in place for the remainder of the current financial year. They include:

  • £232k – create a Coronavirus Business Support Fund with a package of interest free loans and grants to help businesses affected by the pandemic.
  • £711k Town Centre Fund – support for Bo’ness, Denny, Falkirk and Grangemouth town centres
  • £300k – specialist economic and technical support to [LM2] develop recruitment incentives for job creation, develop a District wide Gift Card to lock in local spend,  the introduction of a new short term parking tariff and accelerate the Falkirk and Grangemouth Investment Zone Projects.

Council Leader Cecil Meiklejohn said: “The impact Covid-19 has had on the business community cannot be underestimated. The last few months have been extremely challenging for our local businesses but with the right support we believe the area can recover and adapt to the challenges ahead of us.

“We know through our conversations with business and feedback from our consultation in the summer that there are fantastic examples of how many businesses have adapted to the current environment by embracing online and digital opportunities. The support available through our recovery plan is varied and I believe by working together our business community will bounce back stronger than ever.”

The Falkirk Council Business Gateway Team is working remotely and can offer expert advice and support. The Council’s website has a FAQ’s for businesses and includes the new Strategic Framework for Business Fund launched last week, providing funding for businesses which remain closed or are directly impacted by law due to the ongoing pandemic.