Glasgow ranks as top large city in Europe for foreign direct investment
Glasgow ranks first out of all large European cities for foreign direct investment strategy, according to new analysis by fDi Intelligence.
Glasgow obtained the award alongside cities such as London, Vilnius, Reykjavik and Galway.
The analysis by fDi Intelligence highlighted that Invest Glasgow (IG), Glasgows dedicated investment promotion agency, which is equipped with a £500,000 annual budget, has proved successful in its mission.
In line with Glasgow’s strategic vision to become the UK’s best-performing city for inward investment by 2023, IG focuses on targeted overseas markets as well as developing sector propositions and a portfolio of major market-ready projects.
In 2019, the agency staged the first Glasgow Real Estate Showcase to promote the city’s capital investment opportunities. Following its success, the event will now be held annually.
Glasgow was also ranked second-best UK Tech City in US real estate group CBRE’s 2019 Tech Cities Report. The Digital Glasgow strategy supports the digital economy through initiatives such as the Tontine accelerator, which provides flexible workspace, dedicated support and a bespoke accelerator programme to high-growth technology, design and creative companies.
In addition, the city’s three innovation districts – Glasgow City Innovation District, Glasgow Riverside Innovation District and Advanced Manufacturing Innovation District Scotland – aim to stimulate growth and expand the business base of leading-edge firms using advanced technologies to enhance productivity.
Other incentives and initiatives include regional selective assistance, a discretionary grant scheme that offers new companies to the city a grant for up to 30% of total project costs, and the Glasgow Guarantee, the council’s £50m flagship employability programme, which has secured employment and training for over 9000 young people at more than 200 businesses since 2009.