| scotland
i3, IRVINE’S ENTERPRISE AREA – A ROUTE TO JOBS
Irvine Bay Regeneration Company and the i3 Enterprise Area in Irvine. In its first few years Irvine Bay set about
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addressing some key issues and market failures in the five towns of Ardrossan, Irvine, Saltcoats, Stevenston and Kilwinning in North Ayrshire. A huge amount of groundwork and
planning was required, and the company’s early years weren’t helped by the impact of the worst economic recession in living memory and the subsequent impact on budgets. Nonetheless, a number of key projects got underway and the company reported the creation of around 360 full- time jobs by 2013. But in Spring 2014 the company was
able to report a total of 777 new full-time jobs created, and by September 2015 a total of 1002. Patrick Wiggins, Chief Executive of
Irvine Bay, explained: “This faster growth is directly connected with the development of the Enterprise Area, where over 400 new jobs have been created since it was established in 2012. “Our 2007 target of creating 1,100 jobs
was revised in 2013, with a new target of creating 2,500 new jobs by 2020.” Projects currently under way could lead
to the creation of 7,000 further jobs through our investment in business infrastructure. In addition to the above, an estimated 457 jobs have been created
New office accommodation at Ardrossan quayside
within the construction sector. The regeneration company was
established to tackle market failure in the area, and to help stimulate much-needed investment and improvement to the area’s business infrastructure.
Projects currently under
way could lead to the creation of 7,000 further jobs through our investment in business infrastructure.
Patrick Wiggins added: “We have
invested over £40 million of public funds in Irvine Bay since 2006, with £100 million of private investment committed, largely in i3 Irvine’s Enterprise Area. These funds have contributed to key projects that have transformed town centres, renovated derelict buildings, created new business accommodation and contributed to infrastructure.” Announced by the
Over 400 new jobs have been created in the Enterprise Area since 2012
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Scottish Government in 2012, the Enterprise Area has become the major focus of IBRC’s
business infrastructure work. The Enterprise Area is important in attracting new investment and jobs to North Ayrshire, with business incentives available to attract new companies, including life sciences companies, into the area. Achievements at i3 include: • More than £100 million of capital investment has been committed by the private sector
• Our support and investment has seen a 28% increase in the number of companies with the total now standing at 32 companies
• 30,000 sq.m of space let or under offer since April 2012
• An additional 411 jobs have been created or relocated
• As a result, over 2,000 people are now employed at i3
• New infrastructure, signage and landscaping
he statistics tell their own story when it comes to measuring the success of
Riverside Way, i3 COMMERCIAL PROPERTY MONTHLY 2016
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