Economic spin-off for Angus

Angus is expected to receive a significant economic spin-off from Dundee’s £1 billion waterfront project, according to a recent report given at Montrose Rotary Club.

Montrose traditionally looks to Dundee as its nearest city and project co-ordinator Allan Watt told members that the town has an opportunity to benefit from employment and tourism opportunities created by the project

Mr Watt, who gave members an update on the scheme, is forecasting that more than £100 million of capital projects will either be started or completed this year, taking the amount of committed investment for Dundee Waterfront to nearly £500 million, half the £1 billion target.

Work is expected to start on the £45 million V&A, the new £14 million Dundee Railway Station, the £30 million Riverside flats development as well as other construction projects. Major projects expected to be completed during 2013 include the £32 million Olympia Swimming Pool, £8 million Malmaison Hotel, demolitions of Tayside House, Hilton Hotel and Gala Casino, replacement of Station Bridge and South Marketgait Bridge.

Mr Watt said: “We are very pleased with the rate of progress and the interest that is being generated in Dundee Waterfront. We are delighted with the amount of investment being generated by local businesses and, increasingly, by inward investment. 2013 is set to be a watershed year as we close in on £500 million of committed investment, or half the overall target of £1 billion.”

The increase in investment, job creation and visitor numbers was going to generate hundreds of millions of pounds of additional revenue for the city as well as Angus and Fife.

Tourism is set to see significant growth and the V&A at Dundee is alone expected to generate 500,000 additional visitors to the city during its first year, then settling at more than 300,000 annually. With the golf assets Angus and Fife, among other attractions, by 2015 the business flowing into Dundee and the surrounding area is expected to be significant.