Council Statement Over Mid-Term Review

Following recent reports regarding the mid-term review of Riverside Inverclyde, a joint statement has been released by Riverside Inverclyde Chair Alf Young, Inverclyde Council Leader Stephen McCabe, and Adrian Gillespie, Managing Director, Operations, Company Growth Innovation & Infrastructure, Scottish Enterprise.

It reads: "Riverside Inverclyde began operating almost in parallel with the worst economic downturn in living memory.

"Set against that backdrop it has achieved many successes such as the development of the Clydeview Business Park - which has and will accommodate hundreds of jobs with locally based companies which would arguably have been lost to Inverclyde - and significant investment in our town centres to encourage investment and economic prosperity.

"Riverside Inverclyde was given a very specific task to develop and regenerate sites blighted by heavy industry and decades of economic decline and has been extremely successful in bringing forward innovative projects.


"Riverside Inverclyde has set in place the building blocks for future development and investment as the economic outlook improves. It is well placed more than ever to exploit and maximise opportunities provided by the markets as they emerge.

"The mid-term review is a snapshot of the work undertaken so far and doesn't detract from the ambition and aspiration for the years ahead. It is also important to stress that we will take on board any lessons that can be learned from it.

"All parties are supportive of the Riverside Inverclyde team and the very good work they have carried out over the first half of operation. Reports that the chief executive and implementation manager are leaving Riverside Inverclyde as a result of the mid-term review are unfounded. Both have been recruited to new career opportunities elsewhere."

Established in 2006, Riverside Inverclyde received funding from Inverclyde Council, The Scottish Government and Scottish Enterprise with an overall budget of £93m and an expectation that a further £300m of private sector investment would be leveraged into the area.

Earlier this week, the mid-term report by external consultants was unveiled and found that £59m of public funds has been invested since 2006 by the arm's length company and that the overall conclusion is 'some good progress so far, but room for improvement'.

(JP)