Guided by several policy framework plans for the economic and social renewal of Glasgow, the city has undertaken (or is planning) numerous development projects that build on the city’s orientation toward a sustainable future for both businesses and the city’s residents. The Glasgow City Plan takes these dual aims into account while paying mind to issues like design, heritage and traffic planning and management. Other aspects of this planning include Glasgow’s Economic Leadership, which sets forth policies to ensure continued economic growth in the city, and Metropolitan Glasgow’s Vision for the Future of the City Region, which addresses Glasgow regeneration projects specifically over the next decade.
The ongoing development taking place in Glasgow is one of the most exciting things about the possibilities for investing in the city. Glasgow is getting traction internationally after successfully hosting the 2014 Commonwealth Games. The development and regeneration activities for the games set the stage for the city as a future European leader, both economically and socially.
Some key development activities, which is by no means exhaustive in the constantly changing Glasgow development landscape:
- Glasgow City Region City Deal: Glasgow and seven surrounding local authorities secured the second largest City Deal in the UK worth £1.13bn to fund major infrastructure projects; create thousands of new jobs and assist thousands of unemployed people back to work; improve public transport and connectivity; drive business innovation and growth and generate billions of pounds of private sector investment.
- 2014 Commonwealth Games: The Commonwealth Games required substantial infrastructural investment. Glasgow invested more than £500 million into building up its venues and surrounding support infrastructure.
- Pacific Quay Digital Media Quarter: with the boom in digital and new media activity globally, Glasgow has been at the forefront of this growth. The Digital Media Quarter along the River Clyde is anchored by BBC Scotland and features the most advanced broadcasting facilities in Europe.
- International Financial Services District (IFSD): a £1bn public-private project in Glasgow, creating a designated city centre location for international financial and business services companies for relocation and expansion. Since inception of the project, more than 15,000 jobs have been created in the IFSD area.
- Queen Elizabeth University Hospital (QEUH): At a construction cost of just under £1bn, the QEUH campus is now the largest critical care complex in Western Europe treating over 725,000 patients annually.
- Glasgow Harbour: in the coming decade, the Glasgow Harbour project will see more than £1.2bn invested in creating an urban community of mixed-use development.
- Scottish Events Campus (SEC): a major renovation project valued in the neighbourhood of £523 million that will transform the Scottish Exhibition and Conference Centre into a larger-scale exhibition, conference and entertainment complex. The first development is the 12,500 seat, £125 million Scottish National Arena, the SSE Hydro, which opened in September 2013.
- International Technology and Renewable Energy Zone (ITREZ): an urban business quarter specialising in science and technology, which is under development as a part of the Strathclyde University campus.
- Clyde Gateway Urban Regeneration Company: a 2,000+ acre area designated as prime regeneration land east of the Glasgow city centre, Clyde Gateway will benefit from more than £140 million public funds and £1.5bn in private development in the coming 20 years.