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River revival brings jobs to the Clyde
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The major regeneration programme reshaping the economy and landscape of the River Clyde has the potential to deliver more than 50,000 new jobs.
A review of the Clyde Waterfront project also reveals that the investment in the renaissance of Scotland’s most famous river could rise to £5.6 billion.
The findings of the updated analysis of Britain’s most comprehensive regeneration programme were revealed today by Councillor Steven Purcell, chair of Clyde Waterfront Strategic Partnership board and leader of Glasgow City council.
Addressing international delegates to WaterfrontExpo 2006, the world’s largest conference and exhibition focusing on global waterfront development being held at Glasgow’s SECC, Councillor Purcell revealed:
- 20,500 jobs will be supported by projects completed, in progress or approved
- 30,300 jobs are associated with projects in the early stages of development
- £5.6 billion is the projected investment from the private and public sectors
- 23,659 new homes could be created
- 909,000m2 of office, retail, industrial and leisure space is expected to be developed
Increased demand for office and retail space has driven up the jobs estimate as the regeneration programme continues to raise the region’s profile as a world class location offering developers, investors and business enormous opportunity and potential.
The value of investment linked to Clyde Waterfront has risen by £1.7 billion to £5.6 billion. Every £ invested by the public sector is matched by £2.50 from private developers.
Councillor Purcell also underlined the inclusive community responsibility of the Clyde Waterfront programme in delivering opportunity for the people and communities most affected by the demise of the traditional engineering and shipbuilding sectors which made 'Clydebuilt' a globally recognised benchmark for quality.
Councillor Purcell commented: “The tide of economic fortune for the River Clyde and its communities is turning.”
“Investment is taking place at unprecedented levels and with it jobs, confidence and self belief are returning to an area blighted by industrial decline.”
“Working in partnership everyone involved in Clyde Waterfront is delivering a bright and vibrant future that holds out the promise of opportunity for everyone.”
He added: “Glasgow and communities along the River Clyde are benefiting from a real transformation. Our challenge now is to ensure everyone in the area can share in this. This announcement shows that we can achieve this”
Press release: Wednesday 18 October 2006
