THE Scottish Government has announced an accelerated funding package worth £3.4 million for regeneration projects in Inverclyde.
Finance secretary John Swinney yesterday unveiled details of the major cash boost, which will be handed to urban regeneration company Riverside Inverclyde.
A local MSP today described the announcement as a timely boost and encouraging news.
The SNP's Stuart McMillan said the money would bring a significant lift for the Inverclyde economy as a whole.
Mr McMillan said: "I understand that Riverside Inverclyde requested accelerated funding in this financial year to continue its investment programme.
"I am pleased the SNP Government has granted this request and are investing significant amounts of money into the Inverclyde economy at this point in time."
Bosses at RI are currently working on a number of projects, including an ambitious blueprint to redevelop Gourock's waterfront.
It has also completed other major investments, including the Clyde View Business Park, plus securing the historic sugar sheds for future use and improvements at James Watt Dock, above.
Mr McMillan now hopes that the accelerated funding being made available to RI will build on other investments already made by the government to help transform the district.
He said: "This continues the SNP Government's excellent record on investment in Inverclyde since 2007 - which has included £99m invested in social housing, £2.2m for town centre regeneration and funding towards the new additional needs school in Port Glasgow and Wellpark Centre in Greenock, amongst many other investments."
He added: "I am delighted that the government has once again demonstrated its willingness to invest here and work alongside organisations such as Riverside Inverclyde to deliver the best for the area."