Maggie McGinlay, Scottish Enterprise Regional Director, Aberdeen City & Shire discusses the importance of the City Garden Project to Aberdeen's future economic prosperity.
“In my role as Regional Director for Scottish Enterprise I recognise the importance of the City Garden project to the future economic prosperity of Aberdeen. Significant new investment, talent retention and attraction, job creation and the cultural renaissance of our great city can all be achieved without detriment to the Council’s revenue or capital budgets.
Infrastructure development is a key driver of economic growth and has been used to great effect in other international cities such as Bilbao, Spain where the development of the Guggenheim museum transformed the fortunes of that area. Closer to home, the V&A and Waterfront development in Dundee, is helping attract inward investment and bring jobs to the city.
The Malmaison Hotel is the latest high profile investment attracted to the Waterfront. They will build a new 91 bedroom hotel, due to open in 2013 which will bring 120 new jobs to the area. They join a growing number of businesses locating to the area on the back of the city’s physical and cultural regeneration.
Scottish Enterprise recognises that cities have a critical role to play in helping attract talent and investment to Scotland. Increasingly we have found that quality of life and a thriving city centre are important factors in individuals and businesses deciding where to locate. Competing city regions around the world have at their core vibrant and attractive city centres which are well functioning and easy to move around in. The City Garden can help unlock this for Aberdeen.
Whilst recognised as having a good quality of life, various studies show a lack of cultural amenities and poor City Centre public realm is adversely affecting the decisions of skilled individuals to choose to live and work in Aberdeen, particularly from the competitive global energy market.
Ernst & Young’s 2011 European attractiveness survey shows that local labour skills is one of the most important factors a company will take into account when deciding on where to locate their business.
An additional consideration for our local economy is retention of the existing oil and gas base in the region.
Already a lot of our companies deploy their personnel around the globe in pursuit of opportunities and market developments. We want them to remain in Aberdeen while they internationalise, maintaining headquarters, research & development, back office functions and many of the other high value activities here, generating wealth and providing jobs.
Otherwise we may lose their expertise. But we face global competition with other attractive locations around the world, hence the need for investments such as Energetica and the city centre redevelopments. For companies to invest in Aberdeen’s future, they need to see that the city has means to invest in its own future as well.
It is easy to see the correlation between regeneration and Aberdeen’s attraction as a location to live, work and do business. But that regeneration is dependent on investment in place. To this end, the City Garden project has already secured £55m with a further £15m to follow from private donations.
This private sector money has enabled an economic case to be made to Government to access innovative funding mechanisms which will unlock public money - not only for this project but also for improving Aberdeen Art Gallery, demolishing and redeveloping St Nicholas House, redeveloping North Denburn and improving how we get round our city centre.
Total investment of £182m could be available for investment in our city centre with no impact on the Council’s revenue or capital budget programme. If the City Garden project does not proceed, I believe that finding alternative sources of funding to allow these other projects to proceed quickly will prove exceptionally challenging.
In my role at Scottish Enterprise I am committed to doing all I can to work with others to secure a vibrant, healthy and competitive economy for this region and for those of us who live and work here. Economic Analysis by PWC has demonstrated that the £182m of investment planned has the potential to deliver more than 6500 jobs and £122m of wealth per year.
But we need positive action to make it happen. Embracing this incredible opportunity will create a legacy of jobs and prosperity for the city, and help ensure Aberdeen’s economic success in the future."
Monday, 27 February 2012
Monday, 13 February 2012
Investing in success to build Edinburgh's economic growth
It is a huge boost for Edinburgh to have two of its key development sites identified as 'Enterprise Areas'.
This new status, announced by the Scottish Government last month, paves the way for significant investment and jobs growth in Port of Leith – identified as a hub for the low carbon/renewables sector – and Edinburgh BioQuarter – Scotland's flagship life sciences cluster developed around the Edinburgh Royal Infirmary site in the south of the city.
Now we can enjoy a more level playing field with locations supported by subsidies such as Regional Selective Assistance. Enterprise Area status allows us to offer potential benefits including business rate holidays for up to five years, a streamlined approach to planning and support for high quality broadband provision.
These are powerful incentives that will attract new companies and jobs into two areas of national sectoral importance in the renewables and life sciences arenas.
What is particularly significant about the Enterprise Area strategy is its focus on areas of success, rather than areas of need. The idea is that Scotland's most dynamic industries offer the greatest potential for new employment, private investment and economic growth.
Targeting investment where it will be most effective – in competitive places like Edinburgh – can help grow Scotland's economy as a whole. Repeat this approach across Scotland's cities and clusters of expertise, and huge potential is harnessed to fast-track the nation's economy.
In our own strategy for economic growth, The City of Edinburgh Council has pledged to support £1.3 billion of physical investment in the city over the next five years. The Enterprise Area announcement is a fantastic boost to this and highlights the importance of investing in those capital projects with the greatest potential to create jobs and investment. Public realm improvements and enhanced connectivity also help to grow Edinburgh's credentials as one of the UK's most attractive and productive places to live and work.
We are leading the way with developments including Quartermile, BioQuarter, St James Quarter, the tram and growth in West Edinburgh’s airport quarter, improvements to Waverley Station and the expansion of Edinburgh International Conference Centre.
The Council will be building on this over the next five years by further developing innovative funding mechanisms such as tax increment financing (TIF); by delivering Council-wide development plans for each of our four priority investment zones (City Centre, South East Edinburgh, the Waterfront and West Edinburgh) – and by working in collaboration with partners across the public and private sectors.
While the global economy remains fragile, we are privileged to live in a city with remarkable assets and physical infrastructure. Working with partners to deliver investment in these is critical to driving sustainable economic growth –and unlocking Edinburgh's long-term development potential.
Cllr Tom Buchanan, Economic Development Convener,
The City of Edinburgh Council
Thursday, 13 October 2011
West Lothian Council to invest additional £5 million in communities
"West Lothian Council has unveiled a series of wide ranging plans that will result in an additional £5million being invested in positive outcomes for local people.
Jobs and training opportunities for young people, increased support for vulnerable families through early intervention and an increased focus on renewable energy are the three main areas which will benefit as a result of the comprehensive £5 million investment package.
The additional money is a result of an under spend on this year’s budget. The under spend was achieved mainly through proactive workforce planning combined with effective financial management across the council.
Council Leader Peter Johnston explained: “Through efficient use of resources we have been able to save just over £5 million.
“We are committed to ensuring that every penny will be invested back into our communities and benefit the most vulnerable people in West Lothian.
“At a time when there’s lots of doom and gloom surrounding the state of public finances, this substantial investment is fantastic news for the residents of West Lothian. As opposed to cuts, we are creating new skills for the workforce and our communities.
“We have been proactive on our approach to workforce planning and worked alongside the trade unions to effectively protect jobs whilst facing reductions in our budgets.
“We have managed to reduce our staffing numbers without the need for compulsory redundancies.
“We have continually said that there was a need to work in more modern and flexible ways to deliver services with fewer resources available and this additional funding illustrates what can be achieved with good financial management.”
The additional £5million will be spent over a three year period on three areas. They are:
1. Employment for young people
Almost half of the investment, £2.4 million, will be spent on delivering employment and training opportunities for young people, who are one of the groups, affected most by high levels of unemployment.
Councillor Johnston added: “We are absolutely committed to providing employment and training opportunities for our young people. We are investing in projects which will not only provide much needed jobs, but help hundreds of young people gain access to training and life experience outside of the classroom. This type of support not only provides short term benefits but is also an investment in the future.
The projects include:
• Funding additional training and employment opportunities for young people, including modern apprenticeships. The move will result in 40 additional (two year) Modern Apprenticeships, 60 full time job opportunities through a West Lothian Jobs Fund and 250 Wage Subsidies to employers for recruiting young unemployed people (100 16-17 year olds and 150 18-24 year olds).
• Delivering accredited vocational courses in all secondary schools to improve the skills of young people and focus on improving employment opportunities and positive destinations for schools leavers.
• Establishing a valued vocational workshop space at West Calder High School to deliver college accredited courses for motor mechanics and building skills. This resource will be accessed from across all West Lothian secondary schools.
2. Preventative spending in early years
£2million will be allocated to early intervention projects for children and families. Councillor Johnston added:
“There is a huge amount of evidence which highlights the importance of investing in early years and early intervention, which has been a key area for the council for a number of years, particularly through our Life Stages programme.
“Early intervention is hugely important for children and families who come from difficult backgrounds and experience inequality and serious challenges at an early stage in their lives.
The projects include:
• Developing a web based advocacy service for looked after children and providing hardware and training and development facilities.
• Developing a specialist service to engage with families to help them overcome crisis situations and find solutions to their problems. The service is called Families Included.
• Providing enhanced nurture in primary schools and support to help the transition from primary to secondary school for pupils that need it most. This helps increase attainment and positive outcomes for pupils.
“We recognise that when you act early and invest in preventative provision you are essentially spending to save, whilst enabling vulnerable young people achieve their full potential.
“By targeting problems affecting our communities today, we can help reduce the bigger problems of tomorrow, which are often more expensive and more damaging for our communities and individuals.
“A key outcome of the new Families Included project is that we anticipate reduced long-term costs for public sector bodies, including the council, health and the police. For example, diverting even one child from the families involved entering a residential school or secure unit would reduce costs by around £150,000 and £250,000 per annum respectively.
“These figures highlight the importance of early intervention and that is why we are providing additional funding in this area.”
3. Delivering a sustainable future through renewables and sustainable technology
Councillor Johnston added: “We are investing £786,000 in renewables and sustainable technology. By investing in this area now, we are effectively preparing for the future to ensure that we are on the front foot in an increasingly important area of growth.
“With rising fuels costs and the introduction of the new ‘carbon tax’, combined with the already high costs associated with energy usage, we are investing in renewables as a way of creating jobs, reducing energy consumption and reducing future costs.
The projects include:
• Investing in renewable technology, especially solar panels, to help reduce energy consumption and subsequent costs.
• Training opportunities for existing council staff to develop new skills in the renewables industry, which is an area of growth. The investment will mean that the council will be able to develop its own capabilities to deliver and maintain renewable technology, rather than have to buy in external expertise.
• The council is aiming to have 30 properties with solar panels, including offices, schools and partnership centres. However, the council will also look at ways to install solar panels to council homes helping to reduce energy consumption and costs for residents.
Councillor Johnston added:
“We could have held off and invested the money in future years, but by accelerating the £5 million of spending now we can invest it in local people to help deliver priority services, provide more efficient ways of working and enhance future opportunities for economic growth.
“Essentially by spending now, we are investing in the future and helping to put West Lothian in a stronger position in the years to come.”
Local Government Minister Aileen Campbell said:
"It is encouraging to see West Lothian Council making the most of their resources in the current financial climate to boost the local economy.
"West Lothian Council are using the efficiencies they have made to benefit communities, and in particular young people. This is a welcome and powerful example.”
Damien Yeates, Chief Executive of Skills Development Scotland added:
“We’re delighted that West Lothian Council has shown its commitment to ensuring positive outcomes for people across the area through this considerable investment in providing jobs and training opportunities.
“This funding will help young people in to the world of work and will go some way to ensuring that West Lothian businesses have appropriately trained workforces. This in turn will greatly benefit West Lothian’s economy.”
Jobs and training opportunities for young people, increased support for vulnerable families through early intervention and an increased focus on renewable energy are the three main areas which will benefit as a result of the comprehensive £5 million investment package.
The additional money is a result of an under spend on this year’s budget. The under spend was achieved mainly through proactive workforce planning combined with effective financial management across the council.
Council Leader Peter Johnston explained: “Through efficient use of resources we have been able to save just over £5 million.
“We are committed to ensuring that every penny will be invested back into our communities and benefit the most vulnerable people in West Lothian.
“At a time when there’s lots of doom and gloom surrounding the state of public finances, this substantial investment is fantastic news for the residents of West Lothian. As opposed to cuts, we are creating new skills for the workforce and our communities.
“We have been proactive on our approach to workforce planning and worked alongside the trade unions to effectively protect jobs whilst facing reductions in our budgets.
“We have managed to reduce our staffing numbers without the need for compulsory redundancies.
“We have continually said that there was a need to work in more modern and flexible ways to deliver services with fewer resources available and this additional funding illustrates what can be achieved with good financial management.”
The additional £5million will be spent over a three year period on three areas. They are:
1. Employment for young people
Almost half of the investment, £2.4 million, will be spent on delivering employment and training opportunities for young people, who are one of the groups, affected most by high levels of unemployment.
Councillor Johnston added: “We are absolutely committed to providing employment and training opportunities for our young people. We are investing in projects which will not only provide much needed jobs, but help hundreds of young people gain access to training and life experience outside of the classroom. This type of support not only provides short term benefits but is also an investment in the future.
The projects include:
• Funding additional training and employment opportunities for young people, including modern apprenticeships. The move will result in 40 additional (two year) Modern Apprenticeships, 60 full time job opportunities through a West Lothian Jobs Fund and 250 Wage Subsidies to employers for recruiting young unemployed people (100 16-17 year olds and 150 18-24 year olds).
• Delivering accredited vocational courses in all secondary schools to improve the skills of young people and focus on improving employment opportunities and positive destinations for schools leavers.
• Establishing a valued vocational workshop space at West Calder High School to deliver college accredited courses for motor mechanics and building skills. This resource will be accessed from across all West Lothian secondary schools.
2. Preventative spending in early years
£2million will be allocated to early intervention projects for children and families. Councillor Johnston added:
“There is a huge amount of evidence which highlights the importance of investing in early years and early intervention, which has been a key area for the council for a number of years, particularly through our Life Stages programme.
“Early intervention is hugely important for children and families who come from difficult backgrounds and experience inequality and serious challenges at an early stage in their lives.
The projects include:
• Developing a web based advocacy service for looked after children and providing hardware and training and development facilities.
• Developing a specialist service to engage with families to help them overcome crisis situations and find solutions to their problems. The service is called Families Included.
• Providing enhanced nurture in primary schools and support to help the transition from primary to secondary school for pupils that need it most. This helps increase attainment and positive outcomes for pupils.
“We recognise that when you act early and invest in preventative provision you are essentially spending to save, whilst enabling vulnerable young people achieve their full potential.
“By targeting problems affecting our communities today, we can help reduce the bigger problems of tomorrow, which are often more expensive and more damaging for our communities and individuals.
“A key outcome of the new Families Included project is that we anticipate reduced long-term costs for public sector bodies, including the council, health and the police. For example, diverting even one child from the families involved entering a residential school or secure unit would reduce costs by around £150,000 and £250,000 per annum respectively.
“These figures highlight the importance of early intervention and that is why we are providing additional funding in this area.”
3. Delivering a sustainable future through renewables and sustainable technology
Councillor Johnston added: “We are investing £786,000 in renewables and sustainable technology. By investing in this area now, we are effectively preparing for the future to ensure that we are on the front foot in an increasingly important area of growth.
“With rising fuels costs and the introduction of the new ‘carbon tax’, combined with the already high costs associated with energy usage, we are investing in renewables as a way of creating jobs, reducing energy consumption and reducing future costs.
The projects include:
• Investing in renewable technology, especially solar panels, to help reduce energy consumption and subsequent costs.
• Training opportunities for existing council staff to develop new skills in the renewables industry, which is an area of growth. The investment will mean that the council will be able to develop its own capabilities to deliver and maintain renewable technology, rather than have to buy in external expertise.
• The council is aiming to have 30 properties with solar panels, including offices, schools and partnership centres. However, the council will also look at ways to install solar panels to council homes helping to reduce energy consumption and costs for residents.
Councillor Johnston added:
“We could have held off and invested the money in future years, but by accelerating the £5 million of spending now we can invest it in local people to help deliver priority services, provide more efficient ways of working and enhance future opportunities for economic growth.
“Essentially by spending now, we are investing in the future and helping to put West Lothian in a stronger position in the years to come.”
Local Government Minister Aileen Campbell said:
"It is encouraging to see West Lothian Council making the most of their resources in the current financial climate to boost the local economy.
"West Lothian Council are using the efficiencies they have made to benefit communities, and in particular young people. This is a welcome and powerful example.”
Damien Yeates, Chief Executive of Skills Development Scotland added:
“We’re delighted that West Lothian Council has shown its commitment to ensuring positive outcomes for people across the area through this considerable investment in providing jobs and training opportunities.
“This funding will help young people in to the world of work and will go some way to ensuring that West Lothian businesses have appropriately trained workforces. This in turn will greatly benefit West Lothian’s economy.”
Friday, 9 September 2011
A sneak preview of Prof Ewart Kepp's presentation
On the 15 September in Glasgow we are running a leadership and productivity breakfast briefing in partnership with Scottish Enterprise.
Porfessor Ewart Kepp is a keynote speaker and has kindly made his presentation available. Professor Kepp is deputy director the ESRC Centre on Skills, Knowledge & Organisational Performance (SKOPE), and is based in the School of Social Science, Cardiff University.
He has written extensively on lifelong learning, education and training policy making, apprenticeship and youth training, managerial attitudes towards investment in skill, and the linkages between skills and economic performance.
If it wets your appetite for more, why not attend the briefing? Places are still avilable.
Book your place now
View the presentation
Porfessor Ewart Kepp is a keynote speaker and has kindly made his presentation available. Professor Kepp is deputy director the ESRC Centre on Skills, Knowledge & Organisational Performance (SKOPE), and is based in the School of Social Science, Cardiff University.
He has written extensively on lifelong learning, education and training policy making, apprenticeship and youth training, managerial attitudes towards investment in skill, and the linkages between skills and economic performance.
If it wets your appetite for more, why not attend the briefing? Places are still avilable.
Book your place now
View the presentation
Friday, 26 August 2011
Is poor leadership the key to Scotland's relatively weak performance on productivity?
Scotland may have the highest employment rate of the four countries in the United Kingdom (71.9%), but economic uncertainty (re: looming public sector cuts) and low confidence continues to plague the economy.
Out with our borders, the Eurozone crisis continues despite recent calm in the markets, while the American economy looks close to bottoming out. Figures released today show that the US economy grew by just 1%.
There is no simple solution to galvanise the sluggish rate of growth; no silver bullet. So what is to be done?
At an upcoming breakfast session with Scottish Enterprise, we will be discussing what role leadership and productivity play in boosting growth. EDAS Chair and Director of Glasgow University Training & Employment Research Unit, Alan McGregor, leads the session with guest speakers Professor Ewart Keep and Crawford Gillies, Chair of Scottish Enterprise.
Speaking recently, Mr Gillies said:
“There are still too many companies in Scotland who are simply happy with the status quo of their leadership and ambition. They may actually be doing quite well, but they could be doing even better.”
Professor Keep, an expert on the linkages between skills and economic development, said:
The panel will be joined by: Linda Hanna, Director of Enterprise Services, Stuart Patrick, Chief Executive, Glasgow Chamber of Commerce and John Anderson, Chief Executive, The Entrepreneurial Exchange.
Book your place now
Out with our borders, the Eurozone crisis continues despite recent calm in the markets, while the American economy looks close to bottoming out. Figures released today show that the US economy grew by just 1%.
There is no simple solution to galvanise the sluggish rate of growth; no silver bullet. So what is to be done?
At an upcoming breakfast session with Scottish Enterprise, we will be discussing what role leadership and productivity play in boosting growth. EDAS Chair and Director of Glasgow University Training & Employment Research Unit, Alan McGregor, leads the session with guest speakers Professor Ewart Keep and Crawford Gillies, Chair of Scottish Enterprise.
Speaking recently, Mr Gillies said:
“There are still too many companies in Scotland who are simply happy with the status quo of their leadership and ambition. They may actually be doing quite well, but they could be doing even better.”
Professor Keep, an expert on the linkages between skills and economic development, said:
“It isn't at all clear what the category 'manager' means in the UK, but it plainly means something slightly different elsewhere in Europe, because we have more managers proportionally than almost anyone else”.
“Scottish managers may be making perfectly rational choices, given the incentive structure they face. Those choices may maximise short-term profitability and share performance, while failing to maximise productivity. If we are not careful, we may end up helping managers to do bad things better."
The panel will be joined by: Linda Hanna, Director of Enterprise Services, Stuart Patrick, Chief Executive, Glasgow Chamber of Commerce and John Anderson, Chief Executive, The Entrepreneurial Exchange.
Book your place now
Friday, 5 August 2011
Panic and crisis in the markets (again)
Despite recent government interventions, markets continue to have serious concerns that the Eurozone and America can contain the debt crisis and produce sustainable growth.
The facts give cause for alarm. The FTSE 100 lost 3.4% in early trading; huge sell-offs on Wall St are hitting the Dow Jones which fell 4.3%, one of its biggest falls ever; Japan’s Nikkei slide by 3.7%; and bond yields in Spain and Italy rose above 6%.
There is a ton of good coverage in the press, some of which is being live blogged.
Start off with last night's Newsnight piece.
Guardian
BBC
Telegraph
Independent
The facts give cause for alarm. The FTSE 100 lost 3.4% in early trading; huge sell-offs on Wall St are hitting the Dow Jones which fell 4.3%, one of its biggest falls ever; Japan’s Nikkei slide by 3.7%; and bond yields in Spain and Italy rose above 6%.
There is a ton of good coverage in the press, some of which is being live blogged.
Start off with last night's Newsnight piece.
Guardian
BBC
Telegraph
Independent
Thursday, 28 July 2011
Introduction to Economic Development Course
On behalf of the Economic Development Association Scotland (EDAS), Glasgow University’s Training and Employment Research Unit (TERU) will lead a 2-day course on ‘Policy and Practice for Local Economic Development’.
The course will be taught by a team from Glasgow University's Training and Employment Research Unit, led by Professor Alan McGregor, Director of TERU & Professor of Economic Development, University of Glasgow.
To book your place and take advantage of a discounted rate for members click here.
The course will be taught by a team from Glasgow University's Training and Employment Research Unit, led by Professor Alan McGregor, Director of TERU & Professor of Economic Development, University of Glasgow.
To book your place and take advantage of a discounted rate for members click here.
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