The economy of Stirling has received a boost with the launch on Wednesday 10 September of Stirling Development Agency Ltd.

Set up to maximise investment across Stirling, SDA Ltd was formally launched at a business reception at the Ten Drawings by Leonardo Da Vinci exhibition at the Smith Art Gallery and Museum in the city.

A joint venture between Stirling Council and global property group Valad, SDA Ltd aims to bring £100m of investment into Stirling over the next 5 years and a total of £300m over the next 15 years.

A property and land portfolio worth £30m transferred to SDA Ltd from Stirling Council and City of Stirling Business Parks, the joint venture that developed and managed the already successful Castle Business Park in the city.

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The investment potential centres on developing the former brownfield sites of Kildean and Forthside as well as the existing Castle Business Park of class four office space and Broadleys Business Park, a light industrial and motor retail park.

Guests at the reception heard that the first development at Kildean, on the north side of the city, will be a new further education campus by Forth Valley College, scheduled to open in 2012.

Speaking afterwards Councillor and SDA Ltd Board Member Scott Farmer said: "I am delighted that the first development to get underway at Kildean will be the Stirling Campus for Forth Valley College. SDA Ltd has been created to bring not only economic and development benefits to Stirling and the surrounding area but also social benefits.

"This new campus will mean that more people can access further education and I now expect local employers to get into dialogue with the College and let them know just exactly the nature of the skills and knowledge they need for their workforces."

Last month outline planning consent was granted for Kildean Business and Leisure Park on the northern edge of the city. Proposals for the site include 330,000 sq ft of offices, a hotel and leisure facilities, a further education campus and 300 homes to be delivered by Elphinstone Land.

(GK/JM)