FIRST Minister Humza Yousaf has now unveiled a new blueprint for economic growth in Aberdeen, alongside Scottish Enterprise (SE).
Yousaf, and chief executive of SE Adrian Gillespie, launched the strategy during a visit to Verlume in the Granite City to deliver “a step-change in Scotland’s economic performance.”
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Our Focus on Economic Transformation has been launched less than a month after budgets for development agencies were cut in Shona Robison’s December budget, but the First Minister insists the strategy will “support economic growth by creating high-value jobs, enabling innovation, boosting productivity and attracting investment.”
SE will target high growth opportunities in areas relevant to the energy transition, including offshore wind and hydrogen production.
It’s hoped the scaling innovation mission will create an additional 60,000 jobs, enabling companies in relevant industries to generate almost £14billion more in annual turnover by the end of the decade.
The First Minister said: “Scottish Enterprise has an important role to play in driving the energy transition and advancing our vision of a fair, green and growing economy.
“This strategy builds on a strong track record of achievement and sets out how it will do this in alignment with the Scottish Government’s priorities, to support economic growth by creating high-value jobs enabling innovation, boosting productivity and attracting investment.
“I welcome the specific emphasis our focus has on continuing to build close relationships with businesses and stakeholders to support that economic transformation.”
Scotland can harness ‘phenomenal opportunity’
SE has identified low-levels of investment in early-stage companies for two decades. After re-focusing its resources to support companies in tackling these challenges, improvements in performance followed.
But the agency’s chief executive Adrian Gillespie said the new strategy is the start of a “different approach”.
“Scotland has a phenomenal opportunity to harness its unique capabilities to transform the economy and now is the time to sharpen our focus to help drive this.
“Scotland has an excellent track record, for example in Foreign Direct Investment, but there is room for improvement in other areas.
“We are changing the way we are organised, how we work and what we do.
“It signals the start of a different approach for Scottish Enterprise, making sure we do everything we can, alongside our partners, to support ambitious businesses and entrepreneurs and deliver a successful, growing economy for all of Scotland.
“To do this, we will focus on those opportunities that can deliver transformational growth.”tor are constrained, with partnership working to combine resources vital in supporting the agency’s objectives to unlock future transformational opportunities for Scottish businesses, projects and infrastructure.”