A BORDERS town is set to receive a £1.2m economic shot in the arm this week.

When members of Scottish Borders Council (SBC) meet on Thursday (August 31) they will be asked to approve a full business case for the rejuvenation of Coldstream.

The plan is to develop council-owned vacant employment land at the Coldstream Business Park.

The proposed development would comprise of three workshop units based on the design of existing units, which were built in 2015.

These new units will provide 333 square metres of industrial space at an estimated cost of £1,201,268 and will be built by July 2024, creating nine new jobs in the process.

There are currently no buildings on the proposed development land and the site is allocated for business use in the council’s Local Development Plan.

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Funding for the project is to come through the Borderlands Inclusive Growth Deal, an agreement between the Scottish and UK governments, and the five Borderlands local authorities – Carlisle City Council, Cumbria County Council, Dumfries and Galloway Council, Northumberland County Council and Scottish Borders Council.

A follow-on project under the programme will see the servicing of land at Burnfoot in Hawick in 2025-26.

In a report to full council, Jenni Craig, SBC’s director of resilient communities, says: “A full business case for the Business Infrastructure Programme (Scotland) for Coldstream is in the process of being approved by the Scottish Government, and will be submitted to the Borderlands Partnership Board for approval at its meeting on September 13.

“Among the criteria used in selecting the programme’s sites were areas identified as lacking a supply of good, quality modern industrial premises. The Berwickshire area, which includes Coldstream, and the town of Hawick met this criterion.

“One of the objectives of the Business Infrastructure Programme (Scotland) is that building out sites will ensure a provision of more modern, environmentally friendly buildings that will help to assist the quest for a low carbon, more sustainable economy.”