Finance Secretary John Swinney outlined the range of new business incentives that are available to encourage private investment in Scotland’s four new Enterprise Areas, during a visit to the Port of Dundee this morning.
Incentives and actions to stimulate investment include: business rate discounts worth up to £275,000 per business or enhanced capital allowances; new streamlined planning protocols across all sites; skills and training support; and an international marketing campaign to promote the sites.
The Finance Secretary announced the creation of four enterprise areas, across 14 sites, earlier this year. The areas are sectorally focused on the industries with the greatest potential to boost economic growth: life sciences; general manufacturing and growth sectors; low carbon/renewables east; and low carbon/renewables north.
The Port of Dundee is part of the Low Carbon/Renewables East Enterprise Area and is a key renewables site identified within the National Renewables Infrastructure Plan (N-RIP). There is currently strong interest from renewables manufacturing companies in the site, which is 67.0 hectares in total, split between waterfront land at the port and an industrial site two miles inland at Claverhouse East.
The following incentives will apply across Scotland’s Enterprise Areas:
• On most Enterprise Area sites businesses can claim up to 100 per cent rates relief worth up to £275,000 over the five year timeframe of the Enterprise Area policy.
• A framework to facilitate a swift planning process has been developed and agreed by local authorities and COSLA to ensure a speedy approach to handling planning consents in Enterprise Area sites.
• Prioritising the delivery of next generation broadband to every EA site by 2015 at the latest, in line with targets set out in the Scotland’s Digital Future: Infrastructure Action Plan.
• An international marketing drive to promote Enterprise Areas - led by Scottish Development International.
• Instead of rates relief, Enhanced Capital Allowances on plant and machinery at Dundee, Nigg and parts of Irvine to encourage investment.
•Skills Development Scotland, as part of its ongoing contribution to the Team Scotland approach, will offer a customised, client-focused service to deliver appropriate and tailored support to employment opportunities.
Cabinet Secretary for Finance, Employment and Sustainable Growth, John Swinney, said: "The Scottish Government and our enterprise agencies are working hard to retain Scotland’s position as the most competitive environment for business in the UK. We are doing all we can to support jobs and secure new investment in our communities, and Enterprise Areas are another means to help us achieve this.
"To help stimulate private investment we have established a range of incentives including business rates discounts, new planning protocols, an international marketing campaign to target overseas investors and a commitment to deliver next generation broadband to these sites before 2015.
"The Scottish Government has worked closely with our enterprise agencies to select these sites, which are strategic locations for some of our key growth sectors. Our Enterprise Areas are now open for business and Scottish Enterprise and Highlands and Islands Enterprise will work closely with local authorities and the business community to maximise the economic potential of each site."
Charles Hammond, Chief Executive of Forth Ports, owner of the Port of Dundee, said: "The creation of the Low Carbon/Renewables East Enterprise Area is excellent news for inward investment and jobs in Dundee as we set about establishing the city as a renewables hub centred around the Port of Dundee. The location of the port, with its deep water capability and land availability, makes it attractive to the offshore renewables manufacturing industry and we continue to progress a number of strong enquiries from companies keen to locate at the port. This is a great example of the Scottish Government, Scottish Enterprise, Dundee City Council and the private sector working closely together to bring these important opportunities to Dundee."
(GK)
Time and date
CONSTRUCTION DIRECTORY
Latest Construction News
22/11/2024
SP Energy Networks has announced a major investment in Britain's electricity grid, selecting 19 preferred partners to deliver a £5.4bn supply chain programme. This significant initiative aims to meet increasing energy demand and facilitate future growth. The selected companies, many of which are ...
22/11/2024
Edinburgh City Council has launched a 12-week public consultation on a new strategy to revitalise Princes Street and the wider Waverley Valley. The vision aims to create a more vibrant and welcoming city centre, attracting investment, supporting businesses, and enhancing the visitor ...
22/11/2024
Ener-G Services Limited, a leading UK electrical engineering company specialising in renewables, marine, and offshore sectors, has expanded its operations in Westhill, Aberdeenshire. The company has leased Unit 6E at Kingshill Commercial Park, a 2,500 sq ft space, on a 5-year lease. This new ...
22/11/2024
A consortium of leading scientists, industry experts, and academic institutions has joined forces to accelerate Scotland's offshore wind sector. The £2.5 million project, led by the University of Edinburgh in collaboration with the University of Dundee and the Forth and Tay Offshore cluster (FTO), ...
22/11/2024
The Port of Aberdeen and Turner & Townsend were highly commended in the 'Engineering, Construction & Infrastructure Project of the Year' category at the APM Project Management Awards 2024. The award recognises excellence in project management and the positive impact on end-users. The £420 million ...
22/11/2024
South Lanarkshire Council's £10 million fire safety improvement programme has reached a significant milestone, with CCG (Scotland) completing installations in over 1,700 high-rise residences across East Kilbride and Cambuslang. The Glasgow-based construction firm has been working closely with the ...
22/11/2024
SSEN Transmission, a key player in the UK's energy transition, is set to further expand its workforce and move into a new, sustainable office space in Glasgow. The company's commitment to net zero and the increasing demand for green energy workers has led to significant growth, with the number of ...
22/11/2024
Scottish Water is investing in the upgrade of its Loch Eck clean water plant in Dunoon. The project involves replacing outdated dry well pumps with new, more reliable pumps capable of operating in both wet and dry conditions. WGM Engineering, an RSK Group company, has been tasked with carrying out ...
22/11/2024
Scottish Land & Estates has expressed serious concerns over the Scottish Government's Land Reform Bill, particularly the provisions that would allow ministers to force landowners to sell large estates in lots. Sarah-Jane Laing, the organisation's chief executive, stated that while the land-based ...
22/11/2024
Clark Contracts employees have once again shown their commitment to community engagement by volunteering at Silverburn Park in Leven. On Thursday, 21st November, 16 members of the team spent their day planting over 400 trees and carrying out other landscaping tasks. This latest volunteering effort ...