The council has previously approved the full business case for a project to deliver three modern, highly energy efficient business units at Coldstream Business Park. This was then approved at a recent meeting of the Borderlands Partnership.
The project will deliver significant economic benefits, including the potential for nine jobs and addresses a lack of modern, good quality and suitably sized units to support inward investment and business growth.
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The £1.2m project is part of the Business Infrastructure Programme within the Borderlands Inclusive Growth Deal, which will bring £85m investment from the Scottish Government, along with £65 million from the UK Government for projects in Scotland.
Hawick project
Scottish Borders Council are also progressing the development of a full business case for a similar project for new business units in Hawick, which will also seek to draw down funding from the Borderlands Inclusive Growth Deal. The council are committing £632,000 itself to the Hawick scheme.
Councillor Scott Hamilton, Executive Member for Community and Business Development, said: "Investment into local business infrastructure is critical to supporting and growing our local economy, and the planned investments into Coldstream and Hawick will tackle a shortage of business units and help to attract new businesses to the area and also allow existing small businesses to grow.
"The Borderlands Inclusive Growth Deal is a huge opportunity for the Scottish Borders and our neighbouring authorities to take forward a range of exciting projects and investments and I am delighted at the continued progress being made."
