In September 2012, as part of its ongoing 'strategy for jobs' plan, the city of Edinburgh council will launch a new programme aimed at attracting crossborder investment to the city. Edinburgh is already one of the leading destinations for FDI projects in Scotland but the council is looking for ways to further boost investment and job creation as, according to estimates made by the city’s authorities, the city may have a shortfall of up to 37,000 jobs by 2018.
The council plans to attract more foreign businesses by developing a comprehensive set of aftercare services, such as providing support with recruitment, training and advice on the day-to-day issues of expatriates. It is also going to work with local healthcare provider NHS Lothian and technology park Edinburgh Science Triangle to attract entrepreneurs from niche sectors, such as animal health and safety.
A series of events enabling new and existing investors to network is in the pipeline. There are also plans for Edinburgh to co-operate with other major Scottish cities, including Glasgow, Aberdeen and Dundee, to prepare at least one major joint investment proposal for international tender.
By launching its new pro-FDI initiative, Edinburgh is hoping to further bolster its already growing reputation among international investors. In 2011, 34 FDI projects were launched in Edinburgh, leading to the creation of an estimated 1067 new jobs, according to greenfield investment monitor fDi Markets. This is the highest recorded annual figure since fDi Markets began collecting data in 2003, and represents a ninefold increase from the number of projects recorded in 2004.