A special taskforce is being set up in the Journal and Gazette area to focus on the future of the local economy in the wake of the crisis at Grangemouth petrochemical plant.
Leader of Falkirk Council, Councillor Craig Martin said the plan was still a priority, despite the threat of closure being lifted at the plant.
Operator INEOS had announced on Wednesday it was to shut, with the loss of 800 jobs, after union members rejected a survival plan which would mean pay and pension cuts.
But the decision was reversed last Friday after the union agreed to all of the company’s conditions.
INEOS say they now intend to invest £300 million in the site.
Leader of Falkirk Council, Councillor Craig Martin said: “We welcome the news that the plant will remain at the heart of the petrochemical industry in Scotland. It is the best possible outcome for all concerned, particularly the employees and contractors whose jobs were under threat.
“Supporting the local business community is still a priority however, and the council will set up a task force as a precaution to support any job losses and focus on the area’s economic future.
“It has been a traumatic week for everyone involved and our thoughts have been with the workers and their families.
“There has been a huge effort behind the scenes to secure the plant’s future from the UK and Scottish Governments and Falkirk Council.”