Marvin OnumonuInvestment zones in Glasgow City Region and North East Scotland have moved forward, aiming to support thousands of jobs and attract millions of pounds of investment as part of the Government’s Plan for Change.
The Glasgow site will focus on advanced manufacturing, space, maritime and semiconductor production.
It is expected to bring in around £300m of private investment and support up to 10,000 jobs.
The North East Scotland investment zone will target green industries and digital and tech sectors.
The zone is expected to bring in around £1.7bn of private investment and support up to 18,000 jobs.
Deputy Prime Minister Angela Rayner said: “Growing the economy to improve living standards is the number one priority of our Plan for Change, creating opportunities for communities across the UK.
“That’s why we have taken forward Scotland’s two Investment Zones.
“By building on the amazing strengths Glasgow and North East Scotland already possess, they will attract the investment and drive the growth that people deserve.”
Deputy First Minister Kate Forbes said: “Investment Zones will play a role in attracting private investment, growing Scotland’s economy and creating jobs.
“They will help to maximise the impact of our world-class universities and colleges, leveraging our existing research and innovation strengths, and grasping emerging opportunities to support growth in the Glasgow City Region and the North East.
“The Scottish Government is providing a package of Non-Domestic Rates Retention at the sites which can be used to further invest in the Zones and their infrastructure.”
Forbes added: “We have worked with the UK Government to tailor the Investment Zone model to align with Scotland’s economic strategy, supporting the development of clusters and driving innovation in key sectors such as net zero, advanced manufacturing and digital technologies.”
UK Government Scotland Office Minister Kirsty McNeill said: “The Spending Review clearly showed how Scotland is at the beating heart of the UK Government’s Plan for Change and confirmation of the focus for Scotland’s two Investment Zones is an important part of our commitment to drive an industrial transformation across the country.
“The skills and expertise in the Glasgow City Region are perfectly matched to maximising growth in advanced manufacturing, space and maritime with North East Scotland a world leader in green energy, digital and technology.
“Backed by £160 million UK Government investment each, these zones are part of billions of pounds we are investing to back Scottish jobs as we work with local partners to unleash a new era of growth across Scotland.”
