Council bosses attract 12,000 new jobs to city
COUNCIL bosses have managed to attract almost 12,000 new jobs to the city over the last four years though the Invest Glasgow team. Set up in 2012, Invest Glasgow aims to raise the city’s business profile, and move Glasgow has high as possible in the FDI rankings (foreign direct investment).
A new report shows that 2019/20 was the most successful of the last four years, despite Covid-19 with 3619 jobs created through FDI.
Attracting FDI to Glasgow is crucial economically as its boosts the city’s productivity, creates new jobs, and encourages innovation and international trade.
Glasgow currently ranks third in the UK with almost £1.2 billion of FDI attracted to the city since the establishment of Invest Glasgow.
Examples of the recent success in contributing to the city’s economic growth include the investments of JP Morgan and Morgan Stanley, who have brought around 4,000 new jobs to the city.
Since the start of the Covid-19 pandemic, global flows of FDI are down around 40%, with a forecast decrease of 5-10% over the course of 2021 before an expected recovery in 2022.
In response, the Scottish Government has launched a new Inward Investment plan which identifies nine key sectors that align well with Glasgow’s own priority sectors.
Other methods and measures
being introduced by Invest Glasgow at this time include a new CRM (customer relationship marketing) system; digital collateral for marketing and promotion; and the redevelopment of the Invest Glasgow website (www.investglasgow.com) to fully integrate new digital tools that will attract more investment to the city.
In the short-term at least, it is expected that webinars, online events and virtual tours will replace overseas travelling for Invest Glasgow, and a new series of webinars throughout this year is planned. Included in this programme is an event in partnership
with the Department for International Trade and SDI that will showcase Glasgow’s pre-eminence in precision medicine.
Councillor Susan Aitken, leader of Glasgow City Council and Convener for Inclusive Economic Growth, said: “Our Invest Glasgow team continue – as these figures and rankings show – to do a fantastic job in attracting the type of investment that is a key part of our future economic growth. By adopting appropriate measures at this time, they can ensure the city remains a leading destination for FDI from all over the world, with all the benefits this brings to Glasgow.”