24 . Glasgow Business February 2016
THE GLASGOW CI
A 20-year programme of expansion looks set to deliver more than 28,000 new jobs T
he Glasgow and Clyde Valley City Deal programme is expected to deliver an additional
£2.2 billion in economic output a year by 2035 – a 4 per cent sustained rise on previous projections. Tis annual increase – in what is technically known as Gross Value Added (GVA) – will consist of £1.4 billion coming from the impact of new jobs. Te fund is expected to deliver more than 28,000 additional jobs in Glasgow and the Clyde Valley. Te further £800 million will be
delivered through boosts in productivity through a combination of people being able to work in more productive sectors and being able to travel to take up more productive jobs that they would have been unable to travel to without the projects delivered by the City Deal Fund. Te region’s workforce will be
enabled and encouraged to travel to new locations and jobs through a more efficient and beter- connected transport system, and inward investors will be atracted by access to skilled and mobile
workers who can access the key investment locations. In addition to these sustained
increases in jobs and economic output, there will also be temporary increases as the projects in the City Deal programme are developed and built. Te short-term economic impact of the 10-year construction programme has been estimated at £1.1 billion with 10,000 jobs being directly created as a result of the programme. Te City Deal programme is
also expected to increase the total population of the Glasgow City Region about 50,000 more than had previously been projected, with 70 per cent of this increase being composed of people of working age. Tis population boost will mean an increase of potential customers to many Chamber Member businesses. Te City Deal programme will
be based largely on delivery of changes in land use with the investment programme being forecast to deliver about 4.6 million square metres of new developed floor space by 2035. Te total net spending to be
funded through the City Deal is £1.3 billion, according to the latest estimates by the eight member Councils (see panel on page 26) of the projects, that are all at different stages of development and delivery. Te City Deal is composed of 20
infrastructure projects each selected by economic modelling to gauge their economic impact in order to get ‘the most bang for the public’s buck.’ An initial list of 80 projects was reduced initially to 40 and eventually to the 20 in the current programme.
THE CITY DEAL WILL AIM OVER A 20-YEAR PERIOD TO:
• Support an additional overall increase of around 29,000 jobs in the area
• Work with 19,000 unemployed residents and support more than 5,500 back into sustained employment
• Secure £1 billion of Scotish Government and UK Government capital funding to support the delivery of the proposed infrastructure investment programme for the area. Tis will be complemented
by a total of £130 million of investment from local authorities across Glasgow and the Clyde Valley
• Leverage an estimated £3.3 billion of private sector investment to support the delivery of the projects within the infrastructure programme
• Spread the benefits of economic growth across Glasgow and the Clyde Valley, ensuring deprived areas benefit from this growth.
THE REPORT HIGHLIGHTS FIVE REASONS WHY THE GLASGOW AND CLYDE VALLEY CITY REGION MAKES A COMPELLING CASE FOR GROWTH AND INVESTMENT:
• Scale: the city region is the largest in Scotland and one of the largest in the UK
• It is the key engine of economic growth for both the Scotish and the UK economies
• It generates around 32 per cent of Scotland’s Gross Value Added and 33 per cent of Scotish jobs
• It is home to 29 per cent of all the business in Scotland
• 91 per cent of all Scotish-based workers live and work in the region.
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