Glasgow Business . 25 www.glasgowchamberofcommerce.com TY DEAL


IT ALSO HIGHLIGHTS THE EXISTING ECONOMIC ASSETS FROM WHICH THE AREA BENEFITS:


• Its existing strength in financial services, life sciences, engineering, manufacturing and construction as well as the creative and media industries


• Its successful universities, Further Education and research institutes providing the space for innovation and for the people who drive the city’s development


• A highly skilled workforce across a wide range of industries.


BUT THE CITY REGION ALSO FACES SOME KEY CHALLENGES:


• High rates of unemployment • Poor survival rates of business start- ups compared to similar UK cities


• A high number of stalled development sites in key locations


• Pressures facing existing transport infrastructure.


A large part of the public funding package is contingent on the projects delivering economic outcomes. Tis has been structured by Payment-by-Results agreements with the UK and Scotish Governments subject to Glasgow city region’s performance on economic delivery and project outcomes. Te outcomes will be assessed at five yearly ‘Gateways’ with the first coming in 2019-20.


THE CITY DEAL INFRASTRUCTURE FUND WAS ESTABLISHED TO SUPPORT THE DELIVERY IN THREE KEY AREAS:


• Enhanced transport infrastructure across Glasgow and the Clyde Valley


• Te unlocking of sites for housing and employment


• Improved public transport across the region.


Te 20 infrastructure projects were


selected for funding in order to meet these three objectives. Tey include two pan-regional projects, the Glasgow Airport Rail Link and the Strathclyde Bus Investment Programme.


THE OTHER 18 PROJECTS ARE FOCUSED ON SMALLER, SPECIFIC GEOGRAPHICAL AREAS AT:


• £9.4 million: Inchgreen, Inverclyde • £9 million: A8/M8 Corridor Access Improvements, North Lanarkshire


• £27 million: Collegelands Calton Barras Action Plan, Glasgow City


• £78.3 million: Clyde Waterfront and Renfrew Riverside, Renfrewshire


• £62.2 million: Stewartfield Way, South Lanarkshire


• £45.8 million: Metropolitan Glasgow Strategic Drainage project (Camlachie Burn), Glasgow City


• £23.1 million: Greenhills Road/A726 Dual Carriageway, South Lanarkshire


• £199.2 million: City Centre Public Realm, Glasgow City


• £51.4 million: Glasgow Airport Economic Investment Areas, Renfrewshire


• £44 million: M77 Strategic Corridor, East Renfrewshire


• £113.9 million: Govan and Clyde Waterfront Regeneration, Glasgow City


• £3.8 million: Inverkip, Inverclyde • £43.8 million: Gartcosh Community Growth Area, North Lanarkshire


• £14.2 million: Ocean Terminal, Inverclyde


• £62.3 million: Community Growth Areas, South Lanarkshire


• £119.7 million: Pan Lanarkshire Orbital Bypass Corridor, North Lanarkshire


• £21.6 million: Cathkin Bypass, South Lanarkshire


• £27.9 million: Exxon Site, West Dunbartonshire.


Glasgow: the economic facts


Glasgow city region is the biggest in Scotland and one of the largest in the UK. It has a population of 1.8 million (more than a third of the Scottish population) and annual economic output of £36 billion. As such it is a key engine of economic growth for both the Scottish


and UK economies, generating around 32 per cent of Scotland’s economic output (Gross Value Added) and 33 per cent of Scottish jobs. It is also home to more than 29 per cent of all businesses in Scotland. Over the last 25 years, Glasgow City Region has successfully diversified


its economy.


University worth £1.5bn to the Scottish economy


The University of Glasgow contributes more than £1.5 billion in economic output to the Scottish economy, a new study has found. The economic report also


shows that the university, which is a Glasgow Chamber Platinum Partner, sustains almost 15,000 jobs in Scotland, 40 per cent of which are based outside Glasgow. It showed that around £900 million of output and £500 million of GVA (gross value added) could be directly attributed to the university, its students and international visitors. In 2014-15 Glasgow University’s


income rose to £569 million, which included more than £172 million from research grants and contracts. The report also highlights the


university’s ability to leverage more economic impact with every £1 of Scottish Government funding generating an additional £8.37 of support.


The study published to coincide with the university’s new five- year strategy Inspiring People, Changing The World, highlights the ambitious plans for the £775 million redevelopment of its Gilmorehill campus on the site of the old Western Infirmary. The biggest education project


in Scotland will expand the university’s footprint in the city by 25 per cent, creating 2,500 jobs and adding more than £130 million GVA to the city economy. Plans include the creation of


a state-of-the-art learning and teaching centre and a research and innovation hub that will house large-scale interdisciplinary projects and incubator space for spin out collaborations with


industry. It will also see the development for a new ‘cultural quarter’ for the west end. Work is already underway


with the redevelopment of the iconic Kelvin Hall in partnership with Glasgow Museums, Glasgow Life and the Scottish Screen Archives from the National Library of Scotland. Glasgow University attracts


more than 27,000 students from more than 140 countries and contributes to the vibrant and cosmopolitan character of the area.


The university’s contribution


internationally can be demonstrated by the fact that it has more than 300 formal agreements in place with overseas partners and a fifth of its income comes from international sources. Research income alone has more than doubled over the past five years to £20 million. Professor Anton Muscatelli, Principal and Vice Chancellor of the University of Glasgow said: "This report shows how significant the University of Glasgow is as a driver of the Scottish economy. We account for 0.5 per cent of all Scottish GVA, sustain around £1.5 billion worth of output across Scotland and support 15,000 jobs - many of which are outwith Glasgow. "As we move towards the


hugely exciting opportunities that the redevelopment of our Gilmorehill campus will bring for staff, students, the local community and Scotland’s global reputation for education and innovation, now is the right time to celebrate our economic impact.”


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52