The funding comes from both the UK and Scottish Governments, as well as contributions from local councils and universities.
The money has been allocated to infrastructure investment that will unlock up to 5,000 new homes in Winchburgh.
As well as creating 800 new jobs, the deal will allow the council to fund other infrastructure schemes such as;
• new roads - including a new motorway junction from the M9
• a new park and ride facility
• business park
• two new schools to accommodate rising school numbers
Winchburgh is one of three Core Development Areas in West Lothian, with the others at Calderwood and Armadale. In total, there is planning permission in principle for 3,450 homes at Winchburgh.
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Phase one plans include 550 residential units plus a small local supermarket and six additional commercial units and a town square. Around 400 residential units have been completed and occupied and the infrastructure for the commercial area is nearing completion. Other highlights include a new town centre with retail and food facilities, new health and social care facilities, new schools and a railway station.
To build future phases, developers need to put in place education facilities as well as build or contribute funding towards a new school to accommodate anymore homes.
Cllr Cathy Muldoon said: "This investment has the potential to unlock economic opportunities in West Lothian and help accelerate growth by bringing more homes and businesses into the area, which will create jobs.
"West Lothian is one of the country's fastest growing areas and more and more people are choosing to call West Lothian their home. Inward investment and regeneration of the area is very positive news which will help West Lothian to grow and prosper."
Depute Council Leader Kirsteen Sullivan added: "The funding will help to unlock economic development land so that the next housing phases can progress. This funding is essentially there to kick start future development in the area.
"We warmly welcome this announcement, in principle, which could bring a significant amount of benefits to West Lothian in the years ahead."
(LM/MH)
