An economy boost is expected after new figures showed thousands of jobs had been secured through Scotland inward investment in the past financial year.

Stats from Scottish Development International (SDI) have shown that more than 7,500 planned real living wage jobs had been generated by such investment over 2021 and 2022.

There were around 113 investment projects supported in Scotland, 39 of which were investors locating in the country for the first time.

More than 90% of the inward investment results are in the nine opportunity areas identified in the Scottish Government’s Inward Investment Plan, with the most predominant sectors being software and IT and energy transition.

Figures, which combine inward investment projects supported by SDI, Scottish Enterprise and Highlands and Islands Enterprise and South of Scotland Enterprise, were announced by Scottish Government Business Minister Ivan McKee at the 2022 World Forum for Foreign Direct Investment (FDI).

McKee commented: “Inward investors constitute 3% of Scotland’s businesses, but they are responsible for over a third of employment and around half of turnover. They also bring wider spill over benefits to the Scottish economy including strengthening local supply chains, increasing productivity, and building expertise. Given the challenges of the past two years, it is encouraging that Scotland has continued its strong performance in attracting Foreign Direct Investment.

“Over 90% of the projects sit within the nine opportunity areas identified in our Inward Investment Plan – which include energy transition, software and IT, the space sector, health-tech, and digital business services.

“This reaffirms our evidence-based focus to attracting inward investment and demonstrates the value of our strategic Team Scotland approach, which mobilises our international network and our Scottish Government overseas hubs.”

Commitment by Scotland’s enterprise agencies to a values-driven approach has been successful in attracting and supporting a significant number of inward investment projects over the past year.

For example, Scotland’s leading role in tackling the global climate emergency and a net zero strategy, the country’s commitment to wellbeing and an emphasis on values have all caused companies from outside Scotland to make a home here.

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Adrian Gillespie, CEO of Scottish Enterprise, said: “These are exceptional results and show Scotland continues to be an extremely attractive place for firms to invest, locate and grow.

“To secure more than 7,500 planned real living wage jobs is a fantastic achievement. It also underlines the attractiveness of our commitment to a values-led approach to inward investment, focused on our areas of strength.

“Scotland’s incredible workforce, competitive cost base, world-class universities, supportive business environment, natural resources and unparalleled quality of life is what makes global companies want to locate here.”

Gillespie added: “This is supported by a unique ‘Team Scotland’ partnership, which sees the public sector, including Scottish Enterprise, Highlands & Islands Enterprise, and South of Scotland Enterprise, working together with academia and industry to promote the very best Scotland has to offer.

“Our global reputation as a top location for inward investment is further enhanced by this strong performance. Scottish Enterprise and our partners will continue to bang the drum for Scotland, promoting the very best our country has to offer in priority markets across the world.”

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