£1.8m has been awarded from the Scottish Government's Regeneration Capital Grant Fund, with the council and North Lanarkshire Properties Ltd investing a further £1.535m in the redevelopment of the estate.
The project will create ten new, net zero 'incubator' units providing affordable premises for start-ups, micro-businesses and social enterprises and six existing units, owned by North Lanarkshire Properties Ltd, will be refurbished.
Two of the new units will be provided rent-free to community organisations to establish a Men's Shed initiative and one will be a hub for the council's community restorative justice service.
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It is expected that this and future investment will help to safeguard 80 existing jobs and create and sustain 25 new full-time equivalent posts, along with 18.5 per year equivalent construction jobs during development.
Energy and heat required by the units will be generated on site and they will have access to high-speed broadband. There will be improved car parking with electric vehicle charging points and cycle storage, as well as upgrades to the roads and footpaths, drainage, lighting, signage and landscaping.
Councillor Ian McNeil, Chair of North Lanarkshire Properties, said: "Braidhurst Industrial Estate is an important location for local businesses in Motherwell and this project will see the site regenerated to deliver high-quality, modern, low-carbon industrial space.
"Increasingly businesses are aiming to reduce their carbon emissions and work towards net-zero so the facilities at Braidhurst will help them achieve this, and encourage local people to access employment opportunities within the estate by offering active travel links to the surrounding area."
Elsewhere in the estate, the former B&Q unit has been bought by a biotech company which plans to establish their business and create up to 75 jobs.
Councillor Allan Graham, Convener of the Enterprise and Growth Committee, added: "There is significant demand for small and micro-sized industrial units across North Lanarkshire, so the new facilities at Braidhurst will help provide suitable accommodation for more businesses which want to locate here.
"Companies within the industrial estate will also receive support to develop and grow through council services and Business Gateway Lanarkshire."
