Jobs hope as team defies Brexit fears to target cash
AROUND 15,000 new jobs could be brought to Glasgow despite concerns over foreign investment due to Brexit uncertainty.
The target has been set by Invest Glasgow, a Glasgow City Council team which works to boost overseas investment in the city.
It adds 5,000 jobs to the target for 2023 and comes after 8,000 jobs were created between 2016 and 2019, a council report reveals.
The figure has been included in a refreshed investment strategy, which aims to raise the city’s profile in markets in Europe, North America and the Far East.
The strategy has been recommended for approval by councillors when they meet tomorrow.
However, the report on the strategy warns that uncertainties around Brexit mean new investors are currently cautious.
The investment strategy “reflects the dual requirement to bring foreign direct investment for jobs as well as capital for sustainable infrastructure and development”.
The strategy states: “New investments will bring more
‘‘ These are ambitious targets in the face of political change
innovative businesses with highly skilled, well-paid jobs and create supply chains to contribute to the economic strategy’s goal of a more inclusive, productive and innovative Glasgow economy.
“These are ambitious targets in the face of significant political change, both domestically and internationally, which will take place during the lifetime of this strategy. The achievement of these ambitious targets will rely on partnership working and smart use of limited resources.
“Glasgow will seek to attract more investors who recognise fair work practices which help reduce inequality and improve people’s lives.”
Existing inward investors in Glasgow, such as Barclays, JP Morgan and Morgan Stanley, remain committed to their investment despite Brexit.