A fund from Glaxo-SmithKline (GSK) has helped create nearly 300 new jobs in Angus and Mearns.
The Angus and Mearns Economic Development Fund was originally set up by GSK with a £750,000 grant after the pharmaceutical company announced plans to close its Montrose factory in 2001.
The fund had been created with role of softening expected job losses in the area.
The money was shared between 262 local firms, helping to create 290 jobs.
Last year it was decided that the Montrose closure plans would be cancelled and GSK announced it would invest at least £25 million in redeveloping the factory.
Alan Catterall, GSK site director at Montrose, said: "The company was determined from the outset that the money would be used to best effect to support the community and economy.
"I firmly believe that if things hadn't turned out the way they have, GSK would have left a positive legacy in the local community thanks to the success of the fund," he added.
GSK recently donated £250,000 to help set up a community sports ground at Montrose.
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