The money for the project, which forms part of Inverclyde Council's Heritage Inverclyde initiative, came from the Government's Coastal Communities Fund.
It will be used to develop a heritage trail showcasing the area's history and to fund 12 new modern apprentice roles.
Heritage Inverclyde aims to raise awareness of the area's history and to encourage more local and visitors to explore the area, helping to boost the local economy and increase job opportunities.
The proposed trail runs from Langbank to Wemyss Bay, and incorporates a range of attractions along the 20 mile route, including the historic Cloch Lighthouse, Inverkip Marina, Greenock's Titan crane and the replica of the steamship Comet, alongside new facilities, including the Waterfront Leisure Centre and the Beacon Arts Centre at Custom House Quay.
The council will work closely with Riverside Inverclyde, Discover Inverclyde and the Ramblers Association to deliver the project, which will include the installation of new signs and seating along the route, telling the story of Inverclyde through the ages.
Councillor Michael McCormick, environment and regeneration convenor, said: "This fantastic funding boost will help us to establish a coastal heritage route highlighting the rich historic tapestry that Inverclyde has to offer, as well as creating a number of potential job opportunities.
"The project will bring our stories and places to life, attracting more visitors to Inverclyde and positioning the area as a key visitor attraction in the west of Scotland, which will help to boost the local economy."