Over £2bn of committed public and private investment in major regeneration projects over the next three years will continue the transformation of the Clyde Waterfront so that when the economic upturn comes, it will be top of the list for private sector investors and businesses.

That's the bold prediction of Clyde Waterfront, the strategic partnership set up to co-ordinate the on-going regeneration of both banks of the river, along a thirteen mile stretch from Glasgow Green to Dumbarton.

The Clyde Waterfront's Strategic Partnership is confident that, unlike some other major regeneration projects across Europe which have slowed in the current recession, public and private investment along the Clyde over the next three years will maintain momentum and create an ideal climate for more private enterprise and investment to follow, post recession.

This positive outlook is reinforced by the findings of a new in-depth economic analysis, conducted for the Clyde Waterfront Strategic Partnership by GEN.

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The study concludes that, five years in to a 25 year programme, the Clyde waterfront economy has strengthened and diversified significantly.

The report confirms that, since 2003, almost 17,000 new jobs have been created along the Clyde waterfront and over 2.8m sq ft of commercial and business space has been developed.

The level of derelict land in the area has fallen by 79 hectares Total investment to date amounts to £1.46bn, of which £1.1bn (75%) is from the private sector.

Councillor Steven Purcell, leader, Glasgow City Council and chair of the Clyde Waterfront Strategic Partnership said: "It's vitally important that we remain focused on maintaining momentum during these economically challenging times. We will continue to work hard to ensure that communities along the river see real benefits from the opportunities on offer."

Scottish Government Minister for Housing and Communities Alex Neil MSP said: "The rebirth of the Clyde Waterfront is a golden example of public and private sectors working together to transform the fortunes of a community.

"We want to replicate this success right across Scotland and, over three years, we are investing £654m in a range of ambitious regeneration projects which will revive Scottish towns, cities and communities."

Clyde Waterfront is the public sector partnership established in 2003 to support the River Clyde's revitalisation as a world class waterfront location, through a projected £5-6bn of public and private investment in economic, social and environmental regeneration projects, over the next 20 years.

(GK/JM)