FDI investment creates new jobs

As we celebrate a bumper year for foreign direct investment (FDI), we take a look at what makes Scotland such a great place to do business.

Record FDI jobs success

Scottish Development International supported over 100 new foreign direct investment projects in 2018-19, which will create or safeguard over 100,000 planned jobs – an increase of 18% on the previous financial year.

The new figures back up the most recent EY Attractiveness Survey, which named Scotland as the leading UK location for FDI outside of London.

And there’s been no let-up as 2020 got off to a great start with the announcement of plans by USA-headquartered semiconductor manufacturer Diodes, to significantly invest in its wafer fabrication facility in Greenock.

Read the full story on the BBC 

And Australian regulatory technology firm Encompass announced plans to develop its new AI platform for its financial services clients from its Glasgow-base, creating 33 new jobs.

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When asked why they chose to expand their international operations in Scotland, companies talk about our a highly talented and diverse workforce, as well with strengths in areas such as business growth, innovation and access to new markets.

Scotland’s skills played a key role in US space company Spire Global’s decision to grow in Glasgow. It announced a £14.7 million investment to expand its operations in in the city, creating more than 260 jobs.

"Glasgow has been a fantastic location for us, with exceptional talent and people with a phenomenal ‘can-do’ attitude and true grit."

Peter Platzer, CEO, Spire Global

VeriCall opened a contact centre in Kirkcaldy, Fife, last August, which will create over 200 jobs. Managing Director Adam Taylor cited the local business environment as an important factor in the company’s decision to locate in Scotland.

He said: "We have been delighted by the quality, enthusiasm and dedication of the team we have been able to put together. This, coupled with the support of Fife Council and Scottish Enterprise, confirms the decision taken to use Fife as our launchpad."

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Bangalore-headquartered Hinduja Global Solutions (HGS) announced plans to create up to 150 new permanent posts in Selkirk in the Scottish Borders, bringing the total number of people employed at its Selkirk plant to 400. Its CEO Partha DeSarkar said: “The location and people of Scotland deliver best in class performance for our growing roster of clients.”

Read the full story on the BBC

Barclays announced Glasgow as the location for its new 5000-person campus, which will sit alongside Whippany in New Jersey and Pune in India as part of a global strategy to create world-class facilities for the bank’s functions, technology and operations teams. Scott Stewart, Head of Barclays Scotland, said: “This is a big investment and vote of confidence in Glasgow, and builds on Barclays’ long history in Scotland. Once finished, it will create a unique community space in the heart of the city and provide world-class facilities to attract the best talent."

"Despite growing competition from other countries and the uncertain geo-political climate we find ourselves in, Scotland continues to punch above its weight when it comes to attracting FDI."

Charlie Smith, managing director of Scottish Development International

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