£300m 'City Deal' scheme for Plymouth announced

The £300m investment could create more than 10,000 jobs. Credit: ITV News West Country

A regeneration programme worth £300m to the South West's economy has been agreed in Plymouth this lunchtime.

The investment granted by the Government's 'City Deal' scheme will be used to stimulate industry and create more than 10,000 jobs.

It centres on the South Yard at Devonport being returned to public ownership so it can become a hub for marine industries.

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£300m 'City Deal' scheme for Plymouth

Plymouth will be given much greater powers to stimulate industry under the Government's "City Deal" scheme. It's claimed it'll put an extra £300 million into the West Country economy in the next fifteen years.