Attracting investment in Scotland’s people and places
- Our new Invest in Scotland Prospectus will target key markets and sectors with positive reasons to invest in Scotland
- Extend the range and reach of our international network to support investment in Scotland
Our new Invest in Scotland Prospectus will build on Scotland’s outstanding record in attracting investment. Targeting key markets and sectors for Scotland, including digital and precision medicine, we will demonstrate the potential and advantages of locating in Scotland to international investors and companies. We will also align the global resources and expertise we have around investment with our National Infrastructure Mission and Infrastructure Investment Plan, to raise the profile of the high quality of capital investment opportunities available in Scotland.
By summer 2020, we will have an Inward Investment Plan setting out how we will maximise the wider economic and social benefits of inward investment. As with exporting, we will take an evidence-based approach to develop a plan with a focus on attracting investment to the sectors where Scotland is currently world-class. It will build on emerging expertise and enabling technology to address major global challenges around ageing, climate change and wellbeing.
We have received an overwhelmingly positive response to the first call for projects as part of our £3 billion Green Investment Portfolio, supporting our response to the global climate emergency. In the first half of 2020, we will therefore be launching the first selection of these projects to the private capital investment market.
And we have continued to develop the range and reach of our international network, ensuring that trade and investment is central to its purpose, including opening a new office in Paris with an enhanced Scottish Development International (SDI) presence and enhancing our presence in Canada by opening an office in Ottawa in 2018.
Case study: Ready for take-off with Spire Global
Scotland’s space sector is set for lift-off after the First Minister announced £14.7 million of support for Spire Global to grow its operations in Glasgow.
Spire Global builds, tests and operates nanosatellites, which track aviation, maritime and weather patterns. The funding will enable the company to move into new 40,000sq ft premises at Glasgow’s Skypark facility, creating 261 new skilled jobs in the process.
This investment will also see the company’s expanded Glasgow site house both the manufacturing and testing capability for the group’s entire satellite constellation.
The funding for Spire Global, which has offices across the world, demonstrates the Scottish Government and its agencies’ commitment to make Scotland the leading space nation in Europe.
There are now more than 130 space organisations in Scotland, including the headquarters of 83 UK space industry firms, with a combined income of £140 million. More small satellites are also built in Glasgow than any other place in Europe, and last year plans were announced for the UK’s first spaceport in the far north of Scotland. These and other advances mean Scotland’s space sector could be worth £4 billion by 2030.
Peter Platzer, co-Founder and CEO of Spire Global, said: “Glasgow has been a fantastic location for us, with exceptional talent and people with a phenomenal ‘can-do’ attitude and true grit. We are excited to substantially expand our presence here and look forward to the continuation of strong partnerships within Scotland, the UK Space Agency, and the wider UK space ecosystems.”