A £1.6 million investment could bring six new businesses and scores of jobs to one of Fife’s most impoverished areas.
Fife Council has approved the creation of new small business units at Levenmouth Business Park, with the possibility of further funding for more development in the future.
The park on the outskirts of Buckhaven would ideally house companies which complement activities taking place at Energy Park Fife in Methil, enhancing the work already done by James Donaldson & Sons.
The area was chosen after a review of industrial stock across the region found there was insufficient provision in Levenmouth and enquiries outstrip availability across Fife.
Local councillors hope the project will help breathe new life into the area and open up a range of opportunities.
A further £1.86m will be spent on creating six similar units at Dalgety Bay.
SNP councillor Ken Caldwell, convener of Levenmouth area committee, said the investment was great news.
“This will provide much needed business space in Levenmouth, where there is currently a shortage,” he said.
“The infrastructure is pretty much all in place so hopefully we will see some activity soon.”
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An access road to the site was built some time ago but a problem with drainage led to delays.
A further £700,000 has been spent to fix that, bringing the total investment to more than £2m.
Labour councillor Colin Davidson said the work was long overdue.
“As far as I’m concerned, everyone involved in the project deserves credit and we’re hoping this is just the start and we’ll end up with more than 60 jobs,” he said.
Almost half a million pounds of the Levenmouth investment will come from the Fife Task Force, set up by the Scottish Government to help create new employment after mass job losses when Tullis Russell and Velux closed in Glenrothes.
The Dalgety Bay project will receive £1.8m from another Scottish Government fund, while the rest of the money for both developments will come from Fife Council borrowing.
It is thought the rent generated from the council-owned buildings will more than cover the investment over a 25-year period.
The work, approved by the council’s policy and co-ordination committee, would be subject to planning permission and would include access roads, car parking and landscaping.
Labour councillor Altany Craik, economy convener, said: “There’s high demand for quality business space in both mid Fife and south west Fife and we’ve seen similar units snapped up in Glenrothes.”