Glasgow ranks first for foreign direct investment

Glasgow has been ranked first out of all “large European cities” for FDI Strategy (foreign direct investment) in a new report by fDi Intelligence.

The report said: “Invest Glasgow (IG), the city’s dedicated investment promotion agency, sits within the council’s economic development department and operates with a £500,000 annual budget and 4.5 full-time equivalent staff.

“In line with Glasgow’s strategic vision to become the UK’s best performing city for inward investment by 2023, IG focuses on targeted overseas markets as well as developing sector propositions and a portfolio of major market-ready projects.

“In 2019, the agency staged the first Glasgow Real Estate Showcase to promote the city’s capital investment opportunities.

“Following its success, the event will now be held annually.

“Glasgow was also ranked second-best UK Tech City in US real estate group CBRE’s 2019 Tech Cities Report.

“The Digital Glasgow strategy supports the digital economy through initiatives such as the Tontine accelerator, which provides flexible workspace, dedicated support and a bespoke accelerator programme to high-growth technology, design and creative companies.

“In addition, the city’s three innovation districts – Glasgow City Innovation District, Glasgow Riverside Innovation District and Advanced Manufacturing Innovation District Scotland – aim to stimulate growth and expand the business base of leading-edge firms using advanced technologies to enhance productivity.

“Other incentives and initiatives include regional selective assistance, a discretionary grant scheme that offers new companies to the city a grant for up to 30% of total project costs, and the Glasgow Guarantee, the council’s £50m flagship employability programme, which has secured employment and training for over 9000 young people at more than 200 businesses since 2009.”