Inverclyde Council is one of the member local authorities of the £1.1 billion Glasgow and Clyde Valley City Deal, the largest in the UK and the first of its kind in Scotland. This is one of the most significant funding arrangements to take place in Scotland and is funding major infrastructure projects and greatly add to the value of the wider local economy over the next 20 years. City Deal investment in Inverclyde is relates to 3 major projects:
- Greenock Ocean Terminal As part of the City Deal, Inverclyde Council and Peel Ports are building expansion of the quayside and delivery of a new visitor centre to further expand Greenock as the cruise ship capital of Scotland. The new cruise visitor centre project will include additional visitor opportunities with a new gallery and arts space in partnership with the George Wyllie Foundation and a new restaurant.
- Inchgreen is a partnership project between Inverclyde Council and Peel Ports. It seeks to promote, make market ready and secure key sector investment in the site at Inchgreen in Greenock. It involves the redevelopment of a brownfield site, development of underutilised quay assets and the Inchgreen dry dock to offer a dedicated on shore marine hub.
- Inverkip is a joint infrastructure and development project by Inverclyde Council and Scottish Power which addresses the restricted network and junction capacity on the A78 trunk road
at four locations in and around Inverkip. The project will release investment and secure the development of a major 20 hectare brownfield site identified in the Local Development Plan particularly around the former Inverkip Power Station site to create in excess of 600 houses and 6,000 sq m of commercial retail space. The anticipated cost of the public works is £3.25m with additional Private Sector investment expected.
Work across all three projects has been subject to unavoidable delay due to Covid-19, and in the case of the Greenock Ocean Terminal, additional difficulties have been encountered due to the contractor entering administration in 2020.