The Clyde Waterfront regeneration project is to receive £2bn of public and private investment to keep the scheme alive during the economic downturn.

The public sector partners behind the Clyde Waterfront project have calculated that a number of publicly-funded infrastructure projects and private sector investments “guarantee” over £2bn of economic activity along the Clyde over the next three years.

The Clyde Waterfront Strategic Partnership said that it is “confident that, unlike some other major regeneration projects across Europe that have slowed in the current recession, public and private investment along the Clyde over the next three years will maintain momentum and create an ideal climate for more private enterprise and investment to follow, post recession”.

A study by consultancy firm GEN found that five years into a 25-year programme, the Clyde waterfront economy has strengthened and that since 2003, almost 17,000 new jobs have been created, over 2.8m sq ft of commercial and business space has been developed, 6,000 homes have been completed and the level of derelict land in the area has fallen by 79 hectares.

Some of the leisure projects already built include the Xcape complex and the Titan Crane visitor attraction.

Steven Purcell, leader of Glasgow City Council and chair of the Clyde Waterfront Strategic Partnership, said: “It’s vitally important that we remain focused on maintaining momentum during these economically challenging times.

“We will continue to work hard to ensure that communities along the river see real benefits from the opportunities on offer.”