Scotland’s first two ‘Investment Zones’ announced

Scotland’s first two Investment Zones — Glasgow City Region and the North East — have been announced by the Scottish Government.

Glasgow City Region and the North East will each be supported by up to £80 million in targeted investment, tax reliefs and other incentives over five years following a joint selection process by the Scottish and UK governments.

Scottish ministers have “tailored” the UK Government’s Investment Zone model to ensure it aligns with the Scottish Government’s National Strategy for Economic Transformation.

Wellbeing Economy Secretary Neil Gray said: “This is a milestone in the delivery of Investment Zones in a way that enhances Scotland’s economy while aligning with our distinctive priorities.

“Scotland already has a strong track record in innovation and research and the Investment Zones can build on these strengths.

“They will form part of a joined up approach that draws on the expertise of our world-leading research, education and training institutions, dynamic business sector and skilled workforce and will enable local communities to benefit.

“A rigorous process has been followed in selecting Glasgow City Region and the North East and we look forward to working in partnership with them to create high quality jobs and ensure that fair work practices, including payment of the real Living Wage, are embedded in the Investment Zones from the outset.

“We will, of course, continue to invest in all of Scotland’s regions, for instance through Growth and City Region deals, to build on their strengths and stimulate jobs and growth.”