Scotland’s new stg£89m Technology and Innovation Centre (TIC), which was announced yesterday by First Minister Alex Salmond, is anticipated to create 700 jobs in Scotland.
The TIC, which will carry out research into the latest energy, engineering and pharmaceuticals technology, is predicted to boost the Scottish economy by generating £150m over a five-year period.
“Scotland is recognised internationally for its immense contribution to shaping the modern world through innovation and research, and the Scottish Government works with universities, research institutes and industry to ensure the country continues to be a competitive hotbed of ideas,” Salmond said.
“And now, as an integral part of Scottish Enterprise’s new International Technology and Renewable Energy Zone, which aims to establish Glasgow as a premier location for inward investment into world-leading technology and renewables research and development, we have the potential to deliver huge economic and social benefits, not only in Scotland but internationally.”
The investment is aimed to reduce the 8pc unemployment rate in Scotland.
The new building is expected to begin construction at the start of 2012, with the official opening taking place in 2014.