The development aims to turn a former Johnnie Walker bottling plant into a new enterprise and innovation hub for business start-ups, a renewable energy centre and commercial and leisure units. In addition, further plans include building hundreds of 'affordable' homes.
The scheme is a main factor of the Ayrshire Growth Deal, which is aiming to secure over £350 million of funding from the Scottish and UK Governments to develop a number of projects across the region.
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With £5.3m secured from the Scottish Government, following on from £3.5m of funding pledged earlier this year by the UK Government, as well as funding from East Ayrshire Council, the private sector and Diageo, the £25m first phase of the development is ready to take shape.
East Ayrshire Council Leader Douglas Reid said: "This is fantastic news for Kilmarnock, East Ayrshire and the wider Ayrshire community. It represents a huge step forward for the Growth Deal as a whole as this amazing initiative will complete the regeneration of one of the biggest brown sites in Scotland to date.
"I am delighted that the Scottish Government has recognised the potential economic and community benefits the Halo project will bring to the area in terms of job creation, town centre living, increased leisure amenities and environmental improvements.
"The funding announcement by the Scottish Government, together with East Ayrshire Council’s own £2m contribution and the £3.5m announced earlier this month by the UK Government means that, staring with the £25m Phase 1, this project can become a reality."
(LM)
