Manufacturing Plan to boost Scotish economy
Government support to help Scotland’s manufacturers innovate and expand have been announced by First Minister Nicola Sturgeon.
Manufacturing represents over half of Scotland’s international exports and of our investment in research and development, with nearly 190,000 people employed in the industry.
The funding, including £30 million from the European Regional Development Fund, will enable companies to capture new opportunities presented by a move to a more circular economy.
Supported by £70 million of investment, a new strategy for manufacturing – A Manufacturing Future for Scotland – outlines how government will work with industry and with higher and further education institutions to stimulate innovation, improve productivity and increase investment in Scottish manufacturing.
This includes a Circular Economy Investment Fund to help manufacturers develop innovative technologies, business models and infrastructure, from the proof of concept stage through to implementation.
It will also introduce a new Circular Economy Service, offering development support to businesses seeking to redesign their processes and products.
First Minister Nicola Sturgeon said: “Scotland has a long and proud manufacturing heritage and manufacturing must also be a key driver of our future prosperity.
“While manufacturing has undergone a significant transformation in recent decades, with increased globalisation and greater use of digital technology, it remains a high skills and high wage sector, with earnings that are above the Scottish average.”