Budget: Regeneration investment welcomed for Inverclyde and Fife

Councillor Stephen McCabe says the financial support announced in the autumn budget statement yesterday, Wednesday 26 November 2025, by the chancellor will help deliver jobs for the area.

Funding has been allocated from the government’s Growth Mission Fund to support the ongoing redevelopment of the site to attract new businesses and create jobs alongside the Ministry of Defence (MoD).

As part of the deal, it is proposed that the historic Inchgreen Dry Dock will also become part of the overall Inchgreen Marine Park site.

Inchgreen Marine Park is a joint venture between Inverclyde Council and Clydeport Operations Limited, which is a subsidiary of Peel Ports Group.

Councillor McCabe said: “This is a vote of confidence by the UK Government in not only the potential for Inchgreen Marine Park and the historic dry dock but in the huge potential for Inverclyde as a whole and today’s announcement is very much welcome.

“We’ve made great strides in recent times to redevelop the site to make it an attractive proposition for a variety of businesses and industries and there is a lot of positive interest in the site.

“This additional investment from the government is a momentous moment in the ongoing redevelopment of Inchgreen and takes us another massive step closer to realising our shared ambition of attracting work and jobs to the site.”

Inchgreen Marine Park has already benefitted from £11m of investment through the Glasgow City Region City Deal, which is jointly funded by the UK and Scottish Governments, and Clyde Mission. There are plans to carry out further improvement works.

The operators will now work closely with the UK Government and MoD to help realise the site’s full potential, backed by the additional £20m of support.

An Inchgreen Marine Park spokesperson said: “The partners of the Inchgreen Marine Park (Clyde Port Operations Ltd and Inverclyde Council) are delighted with the announcement made today by the Chancellor.

“We have worked and will continue to work with colleagues in the Department of Business and Trade (DBT), the Treasury and the Ministry of Defence to ensure that this national asset, in the west coast of Scotland, realises its full potential for regeneration in the maritime sector within Inverclyde.

“The investment and undertakings with the MOD to facilitate long-term use of the drydock for the defence sector, subject to approval, will result in the management of the drydock transferring to the Joint Venture Company, an excellent example of a public/private partnership for the benefit of local communities.”

Elsewhere, Fife Council welcomed the Autumn Budget Statement that Kirkcaldy High Street and seafront will receive £20m from the Growth Mission Fund.

Council leader, Councillor David Ross, said: “We’re delighted to have confirmation of this funding. This is a significant milestone for Kirkcaldy and for Fife as a whole.

“As a council, we have long been committed to regenerating Kirkcaldy town centre and the waterfront, and this new funding will accelerate our plans to create a vibrant, inclusive and economically resilient town. We’re already progressing key projects, including the demolition of the Esplanade multistorey car parks and the redevelopment of the former Postings site.

“We’ve been developing ideas based on feedback from our own engagement sessions and from local MP Melanie Ward’s consultation. We’ll be sharing more details with the community soon, as we work together to shape the next phase of regeneration.

“Together, we will transform Kirkcaldy into the thriving, modern town centre our residents deserve – one that creates jobs, supports businesses, and reflects the pride we all have in the Lang Toun.”