NEW JOBS FROM FOREIGN DIRECT INVESTMENT IN SCOTLAND UP 9%
Scottish Development International (SDI) has revealed that 2017 was an even stronger year than 2016 for inward investment and job creation in Scotland, with 126 foreign direct investment (FDI) projects generating 8,516 jobs in Scotland, up 9%, on 2016. Of these 3,362 are high value jobs, with salaries 20% or more above the Scottish average.
The greatest number of projects by sector were in technology and advanced engineering, tourism and life sciences, whilst finance and business services made a significant contribution.
Of the 126 investors, 40 were new to locating in Scotland
The strong year-on-year increase in FDI illustrates Scotland’s ongoing attractiveness to foreign investors, during a challenging climate for inward investment.
Neil Francis, operations director of SDI, said:
“This is great news for the Scottish economy; not only do investors bring jobs and new business opportunities, they help to develop our supply chains and drive Scotland’s position in the global business arena by reinforcing our reputation as a fantastic place to invest and do international business.
“The full impact of inward investment extends beyond this; increasingly we are seeing foreign investors making a real difference not just to our economy, but to people and places across Scotland, by investing in and creating opportunities for our young people and by putting in place more inclusive working practices to generate wider benefits.
“These results recognise the collective effort of partners across Scotland and internationally who work so hard to ensure the people of Scotland share the benefits of foreign investment in Scotland. We will continue to target our resources on the sectors, companies and areas of opportunity where we see most likelihood of success, and where we expect to see real economic and social impact for Scotland.”
Patricia Gibson MP added:
“Scotland is yet again proving to be a highly attractive place for foreign investors, attracted here for many reasons; access to a skilled and educated workforce, a supportive business environment and competitive tax rates and property and salary costs all play a crucial role, as does the bespoke support provided through our public sector bodies.
“It all adds up to an attractive package that not only secures new investment in Scotland, but helps to retain and grow our existing businesses, ensuring increased prosperity for the people and communities of Scotland.
“If the UK Tory Government ever gets its act together and agrees to sign up to the Ayrshire Growth Deal, Ayrshire will be able to attract more inward investment, stimulate our own business environment and create more skilled and well paid employment.”