GLASGOW Chamber of Commerce has welcomed the news that the Glasgow City Region has been confirmed as a new Investment Zone.
Following an agreement between the UK and Scottish Government, announced today, the city is set to benefit from an overall funding package of £80million over a five-year period.
The Investment Zone will bring tax incentives and funding opportunities that will attract investment, improve skills, provide specialist business support and improve local infrastructure.
Glasgow Chamber of Commerce chief executive, Stuart Patrick, said: “Today’s announcement brings welcome investment that will secure growth opportunities for blossoming businesses in Glasgow.
“The city is the third-top tech destination outside London and this decision not only recognises this well-deserved accolade, but equally backs the potential of our three innovation districts in engineering, life sciences and advanced manufacturing.
“These are some of the brightest spots on the horizon for the city’s economy, alongside the research commercialisation work of our universities and colleges.
“After the disappointment of the Freeports decision, we have been actively lobbying for support to help the city’s economy recover so we are extremely pleased to see fresh money and targeted tax incentives to help further cement Glasgow’s status as an emerging tech hub.”