The new Ayr Academy is the first project to reach financial close out of 12 schemes worth a total of £330m.
The development is being built by Kier Construction under the hub funding model and construction will begin later this month.
Mr Swinney granted approval to build ten new schools and two new health projects in November.
The schemes are being built under the hub finance model to proceed to financial close as soon as possible.
This followed a ruling by the Office for National Statistics (ONS) that changes to the hub model made by Scottish Futures Trust would adhere to updated EU accounting guidelines.
-- Advertisement --
Mr Swinney said: "This is an important milestone for Ayr Academy, and I am pleased that construction for this new state-of-the-art facility will now begin by the end of this month.
"These developments will make an enormous difference in local communities, not just from the jobs that the construction will bring, but in the health and education benefits they will provide to local people.
"Work continues on getting the remaining 11 projects to reach financial close as soon as possible, so construction can also begin."
Michael McBrearty, Chief Executive of development partner hub South West Scotland, added: "This milestone has taken months of planning between all collaborators involved in this fantastic project, but with formalities now completed we will soon be able to see the new school taking shape.
"There is no question that this development will be of great benefit to Ayr and the surrounding area and we are committed to delivering a first class facility that will have a long lasting impression on the town.
"We look forward to continue to work with South Ayrshire Council, Kier Construction, SFT and our other collaborators to deliver a school local pupils can be proud of."
(LM)
