Question reference: S6W-19590
- Asked by: Gordon MacDonald, MSP for Edinburgh Pentlands, Scottish National Party
- Date lodged: 29 June 2023
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Current status: Initiated by the Scottish Government. Answered by Neil Gray on 30 June 2023
Question
To ask the Scottish Government whether it will provide an update on proposals for Investment Zones in Scotland.
Answer
Following detailed discussions between the Scottish and UK Governments, we have today announced that there will be two Investment Zones in Scotland, to be designed and delivered on the basis of a partnership approach alongside the successful Regional Economic Partnerships.
We have together decided, on the basis of a robust and evidence-based joint selection process, that the Glasgow City Region and North East of Scotland are the two most suitable areas in which to locate them.
Each Investment Zone will benefit from a package of funding worth £80 million, made up of capital and revenue spending and targeted tax reliefs, to promote innovation, stimulate business growth in sectors of the future and create high-quality, well-paid jobs.
We will now jointly begin discussions with the two Regional Economic Partnerships to co-develop detailed proposals, aligned to our National Strategy for Economic Transformation and the recently published Innovation Strategy.
We will publish more information in due course on the policy approach and on the selection process.