Scottish Enterprise announces quarterly RSA figures
Manufacturers get £4.5m funding boost
Scottish Enterprise has provided details of a £7 million jobs boost for the Scottish economy in its quarterly report on Regional Selective Assistance (RSA) funding, published today (28th April).
The report, which outlines RSA grants accepted between January and March 2010, shows that RSA funding totalling £6,990,000 was accepted by 24 businesses during the last quarter, signifying the planned creation of 534 new jobs for Scotland, and safeguarding a further 283 jobs.
The biggest beneficiary from a sectoral view is the Scottish manufacturing industry, which will receive £4,485,000; equivalent to 64% of total RSA offered during the last period. This funding has been awarded to 15 manufacturing companies across Scotland and will see the creation of 272 new jobs in the sector and safeguard a further 258 jobs.
From a regional perspective, Ayrshire has been the main beneficiary, receiving £2,466,000 of funding which will see local firms create 90 new jobs and safeguard an additional 117. This strong regional result is partly due to the offer of £1,980,000 to local aerosol manufacturer Barony Universal Products Ltd.
RSA funding will also bring a significant jobs boost to Dalgety Bay in Fife. This coastal town, with an average population of 10,000, will see 77 new manufacturing jobs created after two local companies, Forth Dimension Displays and KDM Shopfitting & Joinery Ltd, collectively accepted almost £1 million of RSA funding during the last quarter.
Commenting on the report, Lena Wilson, chief executive of Scottish Enterprise, said: “RSA funding is one of the key tools we have to encourage both indigenous and foreign companies to invest in Scotland. It is particularly encouraging to see new jobs being created in regions such as Ayrshire and Fife.
“By promoting RSA to Scottish and international organisations, Scottish Enterprise will continue its mission to play a key role in growing the economy, creating new jobs and helping our companies to innovate and become more globally competitive.”
Enterprise Minister Jim Mather said: “Investment in new jobs can help secure a strong and sustained economic recovery. The latest RSA report shows companies in Scotland are continuing to expand, with the planned creation or safeguarding of more than 800 jobs.
“It is particularly encouraging to see RSA support for a number of manufacturing ventures. This follows a 2.9 per cent real terms increase in manufactured exports in the fourth quarter of 2009 and last week’s news that the Scottish economy is out of recession – welcome evidence of improved economic conditions.
“Through our comprehensive Economic Recovery Plan, the Scottish Government will continue to pursue all opportunities to boost job creation and help ambitious businesses in Scotland go from strength to strength.”
The full RSA quarterly report can be accessed at: http://www.scottishbusinessgrants.gov.uk/rsa/1274.html
About RSA
Regional Selective Assistance (RSA) is the main national scheme of financial assistance to industry. It provides discretionary grants to investment projects that will create and safeguard employment in areas designated for regional aid under European Community law.
Payment of RSA is made in instalments, typically over several years as job and capital expenditure targets are met.
For more information on RSA go to www.scottishbusinessgrants.gov.uk