State of the City Economy Conference 2016: Glasgow is Open for Business

Glasgow's 19th State of the City Economy Conference took place on Friday 25th November 2016 in the Radisson Blu Hotel, Glasgow.

Glasgow's Economic Strategy for 2016-2023 was announced by the leader of Glasgow City Council, Cllr Frank McAveety.

The Economic Strategy is the UK's most ambitious job creation target to date, aiming to create 50,000 new jobs, 1,000 new businesses, 25,000 new homes and 1,000 Living Wage employers by 2023.

The city will also aim to increase its number of tourists by an additional one million visitors each year, requiring 2,500 more hotel beds and potentially boosting the city's tourism earnings by nearly £185m.

Cllr McAveety said: "We aim to make the next seven years the biggest jobs bonanza in Glasgow's history. We know that the 50,000 [new jobs] target is ambitious but we have done the sums and they add up.

"We plan to deliver 50,000 jobs across all of the city's employment sectors, from tourism to high tech, from renewables to health and life sciences. This strategy is the most ambitious on record and rightly so because Glasgow is open for business."

Plans were also announced to launch Scotland's first city innovation district to ensure the city remains at the cutting edge of innovation, combining business, academia and government.

The area around the Technology and Innovation Centre near George Square already has £150 million initial capital investment and an innovation programme worth £250 million.

Tontine is Glasgow's newly converted high-tech acceleration and growth space for young aspiring businesses situated in the heart of the Merchant City. It is part of the £1.13 billion Glasgow City Region City Deal and is supported by the UK Cabinet Office's Department for Business, Innovation and Skills (BIS).

The city recently launched a major report into Brexit, with the launch of the Economic Strategy outlining how Glasgow will face leaving the European Union.

"Glasgow has always faced up to challenges in the past and we will face up to any new challenges that Brexit may pose," Cllr McAveety commented.

The council's strategy to grow Glasgow's economy will also be linked to the city's social policies and its key challenges on health and poverty for the first time. The strategy also pledges to reduce the number of adults with no skills by 50% and establish the city's own Health Commission to improve the regional health.