Sturgeon welcomes impact of inward investment

ALMOST 10,000 jobs in Scotland were created or supported by foreign investment last year, First Minister Ni co l a Sturgeon has announced.

With the number of inward investment projects increasing by 17 per cent in 2014/15, Ms Sturgeon said the figures show “just how successful Scotland is at doing business”.

The figures appear to confound warnings during the independence campaign that businesses were put off by the uncertainty around a possible Scottish exit from the Union.

Some 91 projects created or safeguarded 9,659 jobs – a rise of almost 30 per cent on the previous year – of which 3,192 were said to be highvalue positions.

The three sectors that attracted the most foreign investment were technology and engineering (33 per cent), oil and gas (16.48 per cent), and finance and business services (15.38 per cent).

It comes after Scottish Development International, which helps foreign companies set up in Scotland, attracted a record number of jobs and projects.

Ms Sturgeon said: “These results demonstrate just how successful Scotland is at doing business. It is clear Scotland has firmly established itself, outside of London, as the most successful part of the UK for attracting international investment.”

Lena Wilson, chief executive of Scottish Enterprise, said: “Scotland has demonstrated its strengths as a fantastic place to invest in and grow a business.”

The latest inward investment figures were announced as Ms Sturgeon and Ms Wilson visited UTC Aerospace Systems in Prestwick, South Ayrshire, where the US-based firm has increased its workforce from 15 to 280 over the past two decades.

Its general manager Steve Callan said: “Over the past 19 year s, UTC Aerospace Systems Prestwick service centre has seen tremendous growth, going from 15 to 280 employees and growing revenues to more than $80 million [£51.4 million].”