Enterprise Areas welcome but many will need extra financial support, warns Ryden
Published by Anne Marie Hughes on Sat 09 Jun 12 @ 22:14
Commenting on Finance Secretary John Swinney's announcement on Scotland's Enterprise Areas. Dr Mark Robertson of Ryden, said: "Ryden welcomes the Scottish Government's confirmation of the four Enterprise Areas.
Yesterday's rise in Scottish unemployment highlights the need for initiatives such as EAs to bring jobs to locations across the country and generally make Scotland more attractive to high growth firms and for inward investment.
The incentives on offer, which are expected to include reduced business rates, will provide a boost for small to medium companies in the designated EAs, in sectors such as renewable energy and where we anticipate new investment and growth.
EAs will be targeted heavily at occupiers rather than developers or investors. This support for companies will need to be matched in most EAs by supply-side initiatives to deliver infrastructure and business premises, to overcome the lack of a functioning property development market. Where Urban Regeneration Companies, the National Renewables Infrastructure Plan, Scottish Enterprise's Priority Projects, the new JESSICA fund and other interventions can be married with EAs, those locations will offer the greatest potential for employment and growth."
Ewan Cameron, Glasgow Regional Managing Partner, added: "This is positive news for the Creative Clyde project, for the growth of creative industries in Glasgow and in particular for Pacific Quay, home to BBC Scotland and STV Group, and which has attracted a number of SME's including independent TV production firms Talkback Thames, Shed Media and Raise the Roof Productions. The Glasgow School of Art's Digital Design Studio houses state of the art 3D visualisation and haptic technology."
"The 14 hectare site at Pacific Quay which has been identified as an Enterprise Area means there is potential and further incentive for companies to expand this 'cluster' for creative industries and to capitalize on the existing presence of these occupiers."
David Fraser, Partner, said: 'From an Edinburgh perspective, the inclusion of the Port of Leith within an EA is a major step towards reinvigorating this once-thriving industrial area of the City and will hopefully have a positive wider economic impact for the region."
Andy Boal, Associate in Dundee commented: 'The inclusion of Dundee as an EA is very welcome indeed, and can only make the city an even more attractive proposition for those focussing on opportunities in the renewable energy sector and the associated supply chain.'
Charlie Lawrence, Associate in Inverness, said: "The recent announcement that seven out of the fourteen sites contained within the four enterprise areas being created in Scotland will lie within the Highlands & Islands is significant. Five of these sites will focus on Low Carbon and Renewable energy being located at Hatston and Lyness in Orkney, Scrabster, Arnish and Nigg. all of which have proximity to some of the best wind and wave energy locations.
The remaining two located at Inverness campus and Forres are aimed at research and development and life sciences. Both are growth areas where high value jobs can be created.
The creation of these Enterprise Areas will act as positive factor to encourage businesses to locate at these sites and ultimately will encourage job creation and employment. This in turn will see property development at these sites to meet any demand. This is welcome news for the Highlands.