SE announces 800 jobs for Scotland
Almost 800 jobs will be created or safeguarded across Scotland in a £7 million boost to the economy, Scottish Enterprise announced today, as it published the quarterly report on Regional Selective Assistance (RSA).
The report, which outlines grants accepted between October and December 2009, shows that RSA funding totalling £7.28 million was accepted by 27 businesses during the last quarter, signifying the planned creation of 528 new jobs for Scotland, and safeguarding a further 257 jobs.
Regionally, Glasgow welcomed almost £3.65 million of the funding, thanks to the planned expansion of Odyssey Financial Technologies in the city, while the other main regional beneficiary is Ayrshire, where five companies have been granted an additional £1.84 million.
The funding offered to Ayrshire companies Airframe Components Europe, Braehead Foods, Emergency One (UK), Spirit Aerosystems (Europe) and Woodward International Inc, represents a quarter of the total RSA funding from the last quarter and will provide a welcome investment for the region, helping to create or secure over 140 jobs.
The manufacturing and aerospace industries were the biggest sectoral beneficiaries during the last quarter, respectively receiving 23% (£1,693,000) and 21% (£1,551,000) of the total funding offered, while the food and drink, energy, digital media and automotive industries also received an investment boost.
RSA is a national scheme which provides grants to investment projects that will create and safeguard employment. Responsibility for the scheme passed from the Scottish Government to Scottish Enterprise during the last quarter, so the current report includes grants offered by both parties.
Commenting on the report, Lena Wilson, chief executive of Scottish Enterprise, said: “RSA funding is one of the key tools we can use to encourage both indigenous and foreign companies to invest in Scotland, helping to create new jobs and ensuring Scotland’s economy can remain globally competitive.
“It is encouraging to see that confidence among international investors remains high, evidenced by the fact that half of the businesses named in the report are foreign direct investors. This is testament to the sterling work undertaken by our colleagues at Scottish Development International in securing the commitment of these international companies to invest in Scotland.”
John Swinney, Cabinet Secretary for Finance and Sustainable Growth, added:
“In what remains a challenging economic climate, it is encouraging to see a number of companies in Scotland expanding and creating vital new jobs.
“Schemes such as RSA have an important role to play in securing fresh investment. Building on today’s announcement, the pace will not slacken as the Scottish Government continues its work to position Scotland’s economy for recovery.”
ENDS
Background
The full RSA quarterly report can be accessed at: http://www.scottishbusinessgrants.gov.uk/rsa/1274.html
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