Scottish Enterprise unveils £7million RSA jobs boost

Over 700 jobs are to be created or safeguarded in Scotland thanks to £7 million of Regional Selective Assistance (RSA) funding from Scottish Enterprise accepted over the last three months.

The Scottish Enterprise report on RSA grants accepted between April and June 2011 shows that funding was accepted by 19 businesses to create 498 jobs and safeguard a further 212.

This included 120 planned jobs by Steel Engineering Limited thanks to a £1.8 million award to develop its welding and fabrication services in Renfrew and to target the growing renewable energy sector in Scotland.

In addition, RSA awards totalling £1.6 million and creating 199 jobs were made to three financial services companies, Capital Accumulation Services Limited, Mercer Limited and Pastdue Credit Solutions Limited.

The Scottish manufacturing industry was also a large beneficiary, with businesses awarded a total of £1.9 million to create 126 new jobs and safeguard a further 100. Companies included Cormac Limited in Edinburgh, Symbiosis Pharma Services Limited in Stirling and Emergency One (UK) Limited in Cumnock.

Lena Wilson, chief executive, Scottish Enterprise, said: “We use RSA to help encourage both indigenous and foreign companies to invest in Scotland, creating a stronger, more globally competitive economy and in doing so, successfully create and safeguard jobs for our economy.

“These latest results show a high number of manufacturing companies, highlighting the significant progress that the Scottish manufacturing industry continues to make in ongoing tough economic conditions.

“We know that Scotland has world class capabilities and it’s our role to make sure that we create the right environment for companies to grow their businesses in Scotland. By awarding RSA to ambitious companies we can further raise Scotland’s reputation as a key player in the international marketplace.”

Enterprise Minister Fergus Ewing said: “Over the last three months, more than 700 jobs have been created or safeguarded across Scotland through £7 million of Regional Selective Assistance (RSA) awards from Scottish Enterprise.

“The Scottish Government, Scottish Enterprise and Scottish Development International is working hard to deliver new jobs and inward investment to communities across the country. Scotland has the ideas, infrastructure and skilled workforce to deliver success and this is reinforced by the many world leading firms who chose Scotland as a base to do business.”

The full RSA Quarter 1 report can be accessed here.