SCOTLAND’S INDUSTRIAL BIOTECHNOLOGY SECTOR TO EMPLOY 4,000 BY 2025
Patricia Gibson MP has welcomed news that Scotland’s industrial biotechnology sector will employ over 4,000 people and achieve annual turnover of £1,200 million by 2025, exceeding growth expectations by over £300 million.
This heartening news was made in the Industrial Biotechnology Innovation Centre’s strategy, launched at its annual conference in Glasgow last week.
Biotechnology integrates natural sciences and engineering sciences to create, design and develop products and services.
The National Plan for Industrial Biotechnology presented by Ivan McKee MSP, Minister for Business, Trade, Tourism and Enterprise, outlined Scotland’s ambitions for its bioeconomy to over 300 experts from industry and academia.
The strategy includes a target of 220 companies and more than 4,000 employees working in the sector by 2025, reflecting the increasingly significant role of industrial biotechnology in the transition to net zero.
Businesses active in industrial biotechnology generated more than £790 million of turnover in 2020, rising from £189 million in 2012 – growth of 320% in only eight years!
The Initial target was 2,500 employees and £900 million turnover in Scotland by 2025.
Mr McKee said:
“It is encouraging that Scotland’s vibrant industrial biotechnology sector is well ahead of schedule to meet targets set out in Scotland’s original National Plan and has ambitious new goals for growth.
“Our National Strategy for Economic Transformation launched earlier this year, sets out our plans for the next decade and highlights industrial biotechnology as a current and future key industry for Scotland that is fostering innovative and sustainable ways of using biological processes.
“This includes identifying new market opportunities where Scotland has potential to develop industries like industrial biotechnology by building on our technological strengths.”
Patricia added:
“Biotech is a current and future key industry for Scotland that is critical to the success of the SNP Government’s National Strategy for Economic Transformation.
“The sector’s phenomenal growth in well paid, highly skilled employment and turnover is remarkable and deserves to be acknowledged and encouraged, particularly in these challenging times.
“Scotland remains one of the world’s most innovative nations, not least in science and technology, with a highly educated population and skilled workforce. No doubt that’s why so many cutting-edge companies wish to invest here, complementing our own vibrant biotech and other thriving sectors.”
ENDS
