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‘Record’ year for inward investment in Scotland

First Minister Nicola Sturgeon talks to apprentices at UTC Aerospace Systems.
First Minister Nicola Sturgeon talks to apprentices at UTC Aerospace Systems.

Scottish Development International (SDI) has reportedly generated more than £433 million of planned inward investment for Scotland and created or safeguarded 9,659 jobs.

The figures include £134.9m of planned inward investment for Fife and Tayside where 1,677 jobs were supported.

Those classed as high value, paying 20% above the Scottish average salary rate, numbered 778.

Inward investment projects increased by almost 17% to 91 in 2014/15 in Scotland, and the jobs created or safeguarded rose by almost 30%.

Almost a third of the 9,659 Scottish jobs were of high value. SDI, the international arm of Scotland’s enterprise agencies, said the figures highlighted Scotland’s international profile in attracting inward investment.

Priority sectors included financial and business services, energy, food and drink, and life sciences.

The figures followed the EY Attractiveness Survey published earlier this year, which named Scotland as the most attractive place in the UK to invest outside London.

After the UK, the US continues to be the largest inward investor with 28.6% of inward investment an increase of six projects from last year.

First Minister Nicola Sturgeon, during a visit to UTC Aerospace Systems, said: “These results demonstrate Scotland’s success at doing business.

“Last year was a record in terms of the jobs and projects that SDI was able to support.

“It is clear that Scotland has now firmly established itself, outside of London, as the most successful part of the UK for attracting international investment.”

Lena Wilson, chief executive of Scottish Enterprise, said: “Scotland has demonstrated again its strengths as a fantastic place to invest in and grow a business.

“A highly skilled workforce, research capabilities and competitive infrastructure make us extremely attractive to the world’s best companies.”

International companies attracted last year included Capita, the UK’s leading provider of business support services that will create more than 200 jobs in Glasgow with a new £11m investment.

UTC Aerospace has grown in 19 years from 15 to 280 employees with revenues of over $80m.