Huge Green Investment Plan Announced at City's Key Economic Event
Published: 24 November 2023
Glasgow will bring forward plans for its own green funding model in a bid to secure massive investment in a climate resilient future.
The city is set to target innovative partnerships capable of delivering large-scale interventions in everything from energy systems and transport to buildings and biodiversity.
Speaking at the 25th annual State of the City Economy Conference this morning, council leader Susan Aitken said detailed plans would be published and go before committee for approval early in the new year.
Glasgow's bid for green investment comes after a period in which the city has already attracted more than £300 million in additional public cash - and will learn from successful work carried out in Bristol; where a ground-breaking investment mechanism is expected to generate around £1 billion to rapidly increase the scale and pace of investment in low carbon energy infrastructure.
Cllr Aitken said: "This milestone State of the City Economy event has afforded us an opportunity to look back at the progress we've made, take stock of where we are and continue laying the foundations for the future.
"These are hugely challenging times economically and socially for cities across the UK. But the building blocks we've put in place in Glasgow in recent years are now bearing fruit.
"In just over a year we've secured £300Million in public investment to advance cutting-edge new sectors; work on the transformational Clyde Metro project today takes its most significant step forward to date, and we're announcing a huge advance in delivering the multi-million investment needed for Glasgow's transition to Net Zero.
"And in seeking to make Metropolitan Glasgow the most resilient, diverse and innovative regional economy, we're making major strides in improving the life chances and opportunities for all Glaswegians."
Addressing her 6th SOCE event, Cllr Aitken gave a key update on Clyde Metro - a project that was kick-started at the same conference in 2017.
On that occasion, Cllr Aitken announced the council would fund an independent Connectivity Commission, tasked with rethinking how the city moves.
The Commissioners' headline recommendation was a regional metro system - including key links between Glasgow city centre and destinations including Glasgow Airport, the neighbouring Advanced Manufacturing Innovation District and the Queen Elizabeth University Hospital.
With the scheme now recognised by Ministers as a national priority and hailed as the most significant investment in Scotland's infrastructure in decades; Cllr Aitken this morning confirmed Clyde Metro is moving at pace to the next phase of its delivery - the preparation of a detailed business case.
Around 600 delegates from all sectors of Glasgow's business community took part in today's event, hosted at the Radisson Blu hotel - and they heard Cllr Aitken reveal that Glasgow is also ready to develop a new city marketing model.
Working with Glasgow Chamber of Commerce and Glasgow Airport, Sheona Southern - the former managing director of Marketing Manchester - has been appointed to devise the new approach, which will complement the work of the award-winning Glasgow Convention Bureau.
Cllr Aitken said: "For all our cultural and sporting success, there's a bigger story of modern Glasgow we need to be better at telling - one that reflects the dynamism of our economy, our institutions and the ambitions we're deliver on.
"This new city marketing model will support businesses and organisations who we know have a compelling story to tell, both at home and internationally."
Cllr Aitken announced a multi-million-pound City Social Innovation Challenge Fund will be created to support entrepreneurs and social innovators from under-served communities, particularly black and ethnic minority communities and women, to directly tackle some of Glasgow's challenges.
This support to start, scale and grow businesses - will improve the welfare and wellbeing of individuals and communities
Cllr Aitken said: "Our message is clear. Wherever you are, and whatever your background, we want to work with you to ensure you get the support you need to start, scale, and grow your business."
The Council Leader also shared an update on new work to be undertaken by Glasgow's City Centre Taskforce - gathering data and evidence on the city's evening economy to gain an accurate picture of the centre as it really is, rather than how it is imagined or assumed to operate
The group will also examine the critical issue of transport, with a focus on night-time services.
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