Scottish Enterprise unveils plan to create jobs and boost investment

Scotland's enterprise agency has set out a new mission to create thousands of new jobs and generate billions for the economy.

Scottish Enterprise is aiming to scale up innovation, which could result in over 60,000 jobs and generate £14 billion additional annual turnover by 2030.

First Minister Humza Yousaf officially launched the plans during a visit to offshore intelligent energy management and energy storage technology company, Verlume, in Aberdeen on Monday 15 January.

He said: "Scottish Enterprise has an important role to play in driving the energy transition and advancing our vision of a fair, green and growing economy.

“This strategy builds on a strong track record of achievement and sets out how it will do this in alignment with the Scottish Government’s priorities: to support economic growth by creating high-value jobs, enabling innovation, boosting productivity and attracting investment.

“I welcome the specific emphasis Our Focus has on continuing to build close relationships with businesses and stakeholders to support that economic transformation.”

The new plan involves three "missions" which include developing an energy transition, scaling up innovation and entrepreneurship, and increasing productivity through capital investment in facilities and equipment.

The agency's plan comes after low levels of productivity and innovation were recognised as being barriers to business.

Scottish Enterprise aim to target efforts on high growth opportunity areas of energy transition, including offshore wind and hydrogen production, as well as space, photonics and quantum technology, industrial biotechnology, life sciences and fintech.

Chief executive Adrian Gillespie described the plan as a "blueprint to enable our businesses to deliver high value jobs, boost their levels of innovation and productivity, and create wealth for Scotland's economy."

Mr Gillespie said: "Scotland has a phenomenal opportunity to harness its unique capabilities to transform the economy and now is the time to sharpen our focus to help drive this.

"Scotland has an excellent track record, for example in foreign direct investment, but there is room for improvement in other areas.

"We need a future economy that drives up levels of investment and innovation that positively impacts economic performance and generates wealth for everyone in Scotland. We are changing the way we are organised, how we work and what we do, to help secure that."

Scottish Enterprise said it has helped create and safeguard 75,000 jobs across Scotland, raising £900 million in income tax over the last 5 years.

The agency has also provided £87 million of capital investment grant support to businesses over this period, with this money bringing in a further £460 million from other sources.