The funding will focus on creating a venue that can compete on an international scale.
Over the next ten years, the AECC is expected to contribute an additional 4.5 million visitors, £113 million of visitor spend and £63 million net GVA to the Scottish economy.
The new centre will:
• Provide four times the current exhibition space.
• Double the seated entertainment arena to 10,000.
• Secure an additional 31,000 business tourists to Scotland.
• Lead to an additional £11 million of visitor spend per annum.
• Raise Aberdeen into the top five of global competitor energy cities for conferences and exhibitions.
The £207 million facility will also enhance Scotland's portfolio of business tourism venues which has recently been upgraded thanks to SE investment in the SSE Hydro and the Edinburgh International Conference Centre.
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The centre also represents part of a significant strategic programme of investment in transport infrastructure, housing and business space planned for the city region.
The Aberdeen City Region Deal and the Aberdeen Strategic Infrastructure Plan which aim to retain and build on Aberdeen's position as Europe's oil and gas capital.
With Scotland’s oil and gas exports reaching £10 billion in 2012/13, a dedicated workforce of 224,000 and 2000 supply chain firms, the sector is one of the most important to the Scottish and UK economies.
Deputy First Minister John Swinney said: "As the energy capital of Europe and a global centre for expertise in technology, the Scottish Government is keen to promote Aberdeen as a focus for international investment and events.
"This new investment in the AECC will provide world-class facilities that will serve Aberdeen city and shire, and Scotland, for years to come."
Lena Wilson, Chief Executive of Scottish Enterprise, said: "We know that Aberdeen City and Shire is a major contributor to the Scottish economy. It is an ambitious area of Scotland, as the recently approved City Centre Masterplan indicates.
"Scottish Enterprise is committed to innovative partnerships throughout Scotland to deliver maximum value for the local and national economy.
"The new AECC is a great example of a project where we can add value not just by providing funding but by using our experience and networks across the country to get better impact for the North East.
"We look forward to continuing to work with all our partners to make the region even more successful."
(LM)
