Argyll and Bute Council has welcomed the UK Government's announcement of £5 million to develop the Clyde Engineering and Innovation Centre (CEIC).
The CEIC will provide modern commercial accommodation and collaborative space for defence supply chain businesses, with the goal of fostering innovation, creating jobs and boosting the local economy.
Councillor Jim Lynch, Leader of Argyll and Bute Council, said: "This is a significant investment in Argyll and Bute, and in Helensburgh and Lomond in particular. Argyll and Bute has great potential for economic growth but needs funding to transform that potential into real benefits for local people, local communities and the wider national economy. We welcome today's announcement, as funding for the future of Argyll and Bute."
The project sits within the Argyll and Bute Rural Growth Deal, which brings together seven investment themes: Tourism – Creating a World Class Visitor Destination; Creating a Low Carbon Economy; Rural Skills Accelerator Programme; Housing to Attract Economic Growth; Clyde Engineering and Innovation Cluster; West Coast UAV Logistics and Training Hub; and Marine Aquaculture Programme.
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