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Scottish First Minister Nicola Sturgeon announces £70 million for manufacturing and circular economy

Date: Thu, 18 Feb 2016 | Author: Paul Sanderson

Image for Scottish First Minister Nicola Sturgeon announces £70 million for manufacturing and circular economy

A new centre of excellence for manufacturers and bespoke support for Scottish manufacturers in the circular economy has been announced by Scotland’s First Minister Nicola Sturgeon.

Supported by £70 million in funding, the strategy A Manufacturing Future for Scotland outlines how the Scottish Government will work with industry and academia to stimulate innovation, improve productivity and increase investment in Scottish manufacturing.

The funding, which includes £30 million from the European Regional Development Fund, will enable companies to capture new opportunities presented by a move to a more circular economy.

This include a Circular Economy Investment Fund to help manufacturers develop innovative technologies, business models and infrastructure, from the proof of concept stage through to implementation.

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A new Circular Economy Service will offer development support to businesses seeking to redesign their processes and products.

Nicola Sturgeon (pictured) said: “Scotland has a long and proud manufacturing heritage and manufacturing must also be a key driver of our future prosperity.

“The products we make, from pharmaceuticals to textiles, represent over 50% of our international exports and 54% of our expenditure on research and development.

“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.

“Our Programme for Government committed us to further action and backed by £70 million of new circular economy funding, the Action Plan outlines how the Scottish Government, our Enterprise Agencies and Zero Waste Scotland will work with industry and higher and further education institutions to stimulate innovation, productivity and investment.

“Among the key actions in the strategy will be the establishment of a Centre of Excellence for Manufacturing which will act as a hub for continuous innovation to ensure Scotland remains a sustainable and competitive place to do business.”

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