More than £405 million has been invested to date on infrastructure improvements, and business and employment programmes, as part of the Glasgow City Region Deal.

The Glasgow City Region Cabinet considered the transformative economic impact of the UK and Scottish Government funded £1.13 billion City Deal as set out in the latest Annual Performance Report.

The Region's City Deal continues to make significant progress since it kicked off in 2014.

All City Deal projects are underway, with 40 projects already completed including the Sighthill bridge over the M8 motorway in Glasgow, the new transport hub at Motherwell and Ocean Terminal in Greenock.

Over 5,500 unemployed residents and 8,000 young people have also been supported into work through the City Deal funded skills and employment projects.

Councillor Jim Logue, Leader of North Lanarkshire Council said: "Our Glasgow City Region projects are improving transport and active travel infrastructure and bringing jobs and investment to North Lanarkshire.

"The transport hub at Motherwell station links train, bus, cycling and car travel for local people, commuters and visitors while a new dual carriageway linking Ravenscraig and Motherwell will open up opportunities for business, leisure and housing.

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"The Glasgow City Region and council funding is also delivering training and jobs in the design and construction of all the projects as well as supply chain contracts for local businesses."

Local businesses have benefited from a £142 million boost – the value of City Deal contracts won by companies across the Region - 58% of the total number of contracts awarded. And with over £511 million of funding agreed so far for spend on infrastructure works, further contract opportunities are in the pipeline.

Over 1,700 community benefit opportunities have been agreed with businesses appointed to deliver City Deal contracts, including 309 jobs and apprenticeships and 870 skills and training opportunities, most of which are for young people and priority groups.

UK Government Minister for Scotland Malcolm Offord said: "The City Region Deal, backed by £523m from the UK Government, has delivered numerous projects in the past 12 months that will support economic growth and bring jobs and investment to communities.

"Combined with more than £300 million of additional UK Government-backed projects and initiatives like the Investment Zone and Innovation Accelerator, the region is now firmly on the path to renewed prosperity."

Future City Deal milestones include further progress on the two new bridges over the Clyde at Patrick – Govan and at Renfrew – Yoker. Construction is also due to start later this year on the West Dunbartonshire Council Exxon project and on the Sauchiehall Street Precinct and Cambridge Street avenues project.

Scottish Government Wellbeing Economy Secretary Neil Gray said: "I congratulate deal partners on the enormous progress demonstrated so far. Local businesses have won contracts worth £142 million through the Glasgow City Region City Deal in a major boost for economic development.

"By building new bridges, opening a new train station in Motherwell and offices at Greenlaw Works, the Glasgow City Region City Deal is making a real difference to lives and livelihoods while supporting a sustainable, growing economy."

In the past 18 months the Region has also seen a significant increase in resources and funding, with an anticipated £200 million of new funding to be managed at a Regional level, including recent announcements on government funding for a local Investment Zone and the Innovation Accelerator programme.