The support is part of a £10m local economic development capital grant fund from the Scottish Government, which is also supporting businesses in North Ayrshire, Clackmannanshire and Fife.
Features of the £3.6m fund include;
• Develop four industrial units at the edge of the town
• Upgrade existing business facilities in Hawick's Tower Mill
• Secure commitment by Scottish Borders Council to fund and undertake feasibility studies for regeneration of two further redundant mill buildings to inform potential investors
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Minister for Business, Innovation and Energy Paul Wheelhouse said: "Supporting economic growth in the South of Scotland is a priority for this government, creating and protecting jobs and enabling local businesses to flourish.
"The business incubator in the former Armstrong's building will give new and rapidly-developing companies the opportunity to come together and grow. The new and upgraded business infrastructure in and around Hawick will encourage entrepreneurs, generate start-ups and ensure that the region can meet all the business needs that expanding companies may have.
"This will boost the economy in the South of Scotland, creating up to 55 jobs, and will let local businesses build upon the reputation for innovation and hard work for which they are renowned."
Cllr Mark Rowley added: "These projects will not only provide new job opportunities in Hawick but will hopefully act as a catalyst for further property redevelopment and inward investment in the town in the future.
"Redeveloping the former Armstrong's building will deliver new, small office units suitable for start-up firms and existing businesses in the town centre and will also bring life back to a building which has been empty and derelict for many years."
(LM/MH)
