Councils make £1bn city deal bid for Edinburgh and south east Scotland
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Edinburgh and neighbouring local authorities are to submit a bid to the UK and Scottish governments to secure £1bn of funding.
City Deal status is an agreement between the UK Treasury and a region to stimulate investment in the area.
Partners across the Lothians, Fife and the Borders said the money would lead to jobs and improvements in infrastructure across the area.
The six councils have until 5 September to apply.
The bid from Edinburgh and the south east region aims to secure the funding with the aim of then gaining a further £3bn of investment from the private sector.
Edinburgh is the most prosperous city in the UK outside London and expects its population to grow by 200,000 in the next 20 years.
The partners hope to build new housing, generate jobs and improve connectivity through transport links and the internet.
Scottish economy
Andrew Burns, Edinburgh city council leader, said: "We are asking businesses to pledge their support for the Edinburgh and South East Scotland City Region Deal to help accelerate the growth of the region, Scotland and the UK.
"Together, across the region, we are responsible for over 30% of the Scottish economy and are a key driver of the UK. Edinburgh is the most prosperous city in the UK outside London and the most productive in Scotland.
"As a result of this, people may question the need for a City Deal here, but I would urge them to look below the surface and not to take our success for granted. We are also a divided region, with significant numbers missing out on the success of the many.
"In the next 20 years, there will be 200,000 more people living here, placing yet more strain on our infrastructure, housing stock and community services. This isn't only about accelerating growth; it's about putting in place the fundamentals to cope with it in a sustainable and equitable way."
David Parker, Scottish Borders council leader, said: "We hope that a City Region Deal can make available to the Borders a share of £1bn investment over the next 10 years and thus help boost the local and regional economy as well as tackling inequalities, but these opportunities can only be made as a result of a pragmatic co-operation with the five other local authorities."