A major near £20million investment in infrastructure projects in and around Oban that it is hoped will attract £100million of private investment was agreed yesterday.
Argyll and Bute Council is taking nine projects forward as part of its Lorn Arc project.
The council will invest up to £18.9million, which will be borrowed against the business rates generated by the work.
The projects have the potential to create more than 1,000 jobs and bring huge private sector investment.
The projects are: roadworks at Lorn Road and Kirk Road in Dunbeg; the Dunbeg Gateway; Halfwayhouse Roundabout/Dunbeg Development Road; South Oban Development Zone; North Pier Extention; North Pier Streetscape; Barcaldine Access Improvements; Barcaldine Investment; Oban Airport Access Improvements and Business Park.
The projects will create the potential for new businesses in renewable energy; tourism; marine sciences; manufacturing; transport and communication; food and drink sectors.
The council yesterday approved the project initiation document, setting out the arrangements for managing the projects.
The development of the Oban Airport business park access has been identified as the first project, expected to cost around £600,000 with work scheduled to begin in September.
Councillor Ellen Morton, policy lead for special projects, said: “This is a big step forward for this ambitious investment programme, which will enable better use of Oban Bay, deliver 1,000 new homes and create more than 600,000sqft of commercial, business and retail space.
“This is a top priority for the council – we want to turn Oban into a hub for business, which will have a knock on effect for the whole of Argyll and Bute, and will be working hard in the coming years to do just that.”
Chairman of Oban Lorn and the Isles area committee, Councillor Roddy McCuish, said: “I welcome the progress of the Lorn Arc initiative and am looking forward to the Oban Airport business park project starting later this year. We’ve already got a lot of interest in new business units which is a strong indicator that there is demand for this business park.
“Officers will now be developing a full business case which will have greater details and set out the options. This should be ready for consideration in May, with work on site set to begin in September.
“I am excited to see this project develop and am eagerly looking forward to the first spade going in the ground in September. This investment is going to have a hugely positive impact on the lives of the people of Oban and the surrounding area.”