06

August

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Glasgow is open

After the challenges of the last few months, life is returning to the city centre as the bars, restaurants, and shops are re-opening.

As the economy recovers at a phased sector level, businesses continue to be the engine room of our jobs and growth prospects. Successful and thriving businesses, whether start-ups, SMEs, large corporates, social enterprises or not for profit businesses are key to our success.

Doubling down on investments

For the seventh consecutive year, Scotland has reinforced its position as the most attractive location for inward investment in the UK outside of London with Glasgow bouncing up the ranks to 3rd most attractive city (excl. London) for overall number of FDI projects. Some of this performance can be attributed to increasing numbers of existing overseas companies investing further in Scotland and there has been evidence of this continuing in spite of the current crisis.

Within Glasgow itself, we are delighted to report that work on many of the major city centre developments has resumed:

  • Love Loan comprises most of a city block adjacent to George Square and will see a new hotel and homes alongside offices and leisure in Glasgow’s newest neighbourhood.
  • 177 Bothwell Street, on the edge if the IFSD, is a Grade A office development focused on sustainability and wellness with Scotland’s first roof top running track.
  • Barclays new Glasgow campus in Tradeston will be home to 5,000 staff among a wider mixed-use development that includes retail and housing.
  • (Y)our City Centre Districts currently has 4 open consultations for Merchant City, Cowcaddens, Townhead and the Learning Quarter while Austin-Smith:Lord has been appointed to develop these Regeneration Frameworks.

The truth is that Glasgow’s resilient business base never stopped during lockdown but rather quickly adapted to a new way of working. Our skills and talent, innovation, entrepreneurship and commercial savvy are still very much on display.

Many of our businesses generously responded to the crisis by donating supplies or adapting their business model to meet demand for essential services. While others in Health and Life Science and the Digital Economy found their expertise in high demand. Notable among these is the Lighthouse Testing Lab at the Queen Elizabeth University Hospital. This triple helix of collaboration is a joint effort from the Scottish Government, the University of Glasgow and companies such as Thermo-Fischer Scientific and BioAscent Discovery Ltd to create and manage Scotland’s largest COVID testing site.

Safe city

The city partners are working tirelessly to make the city and city centre safe for citizens, businesses and visitors and have responded quickly to create extra space for social distancing by widening footpaths, creating pop-up cycle lanes, and allowing safe access to shops and businesses. This activity is captured under Glasgow City Council’s Spaces for People initiative and will remain in place to facilitate citizens, visitors and businesses returning to Glasgow.

Our economic recovery and renewal will be built on the principles of inclusiveness and sustainability and we look forward to showcasing our great city when we host COP26 in November 2021.

Invest Glasgow is here to help

Although we’re not in the office right now, the Invest Glasgow team is working remotely to support investors and businesses.

You can contact us as normal and, as always, we’re on hand to help whether it be site and property searches, working with you to develop a business case or signposting you to the services you require.


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