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Thousands of new jobs created by inward investment in Scotland

Written by Michelle Rodger

Inward investment projects and job creation in Scotland have surged by almost 9%, according to new figures.

2017 was a strong year with 126 foreign direct investment (FDI) projects generating 8516 jobs, of which 3362 are high value jobs, with salaries around 20 per cent higher than the Scottish average.

The figures, from Scottish Development International (SDI), revealed that technology and advanced engineering (TAE), tourism and life sciences were the biggest contributors for projects by sector, while TAE, financial and business services and food and drink were the biggest contributors for jobs by sector.

Forty new investors chose to locate in Scotland, creating and safeguarding 8516 jobs. Europe. Middle East and Africa was the biggest region for both FDI projects and jobs.

The strong year-on-year increase in FDI jobs backs up the recent EY Scotland Attractiveness survey which illustrated Scotland’s ongoing attractiveness to foreign investors, during what has continued to be a challenging climate for inward investment.

Neil Francis, operations director of SDI, said: “Just recently, the EY Attractiveness survey highlighted a record year for Scotland in attracting inward investment during 2017, and now our own results back this up, showing a 9% increase in new jobs from inward investors over the 2017/18 financial year.

“Clearly, this is great news for the Scottish economy; not only do investors bring jobs and new business opportunities but they help to develop our supply chains and drive Scotland’s position in the global business arena by reinforcing our reputation as a fantastic place to invest and do international business.

“And the full impact of inward investment extends beyond this; increasingly we are seeing foreign investors making a real difference not just to our economy, but to people and places across Scotland, by investing in and creating opportunities for our young people and by putting in place more inclusive working practices to generate wider benefits.

“These results recognise the collective effort of partners across Scotland and internationally who work so hard to ensure the people of Scotland share the benefits of foreign investment in Scotland. We will continue to target our resources on the sectors, companies and areas of opportunity where we see most likelihood of success, and where we expect to see real economic and social impact for Scotland.”

About the author

Michelle Rodger

Michelle is a former national newspaper journalist who co-founded an award-winning IT business before launching Tartan Cat Communications. A social media and crowdfunding expert she manages media and communications for Business for Scotland.

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