The Aberdeen City Region Deal is an agreement between the UK Government and the Scottish Government with Aberdeen City Council, Aberdeenshire Council and Opportunity North East.
The terms commit both the UK Government and Scottish Government to jointly invest up to £250m. Aberdeen City Council, Aberdeenshire Council and local partners are committed to investing up to £44m over the next decade.
The OGTC is one of several projects it supports including: a digital infrastructure fund; the expansion of Aberdeen Harbour; Bio-Therapeutic Hub for Innovation aimed at doubling the number of life sciences jobs in Aberdeen; an Agri-Food and Nutrition Hub for Innovation; and a Strategic Transport Appraisal.
The Deal supports the shared vision of economic renaissance for the region and rebalancing the economy by maximising the remaining North Sea oil and gas opportunities; anchoring the oil and gas supply chain in the region for the long term; and achieving growth in the region’s other key industry sectors, including food, drink and agriculture; life sciences; and tourism.