Scottish First Minister, Nicola Sturgeon, today set out the government’s plans to boost growth, create employment and harness the innovation of the future through £45 million in funding over three years.
Speaking at Spirit Aerosystems Europe Ltd, based in Prestwick, she outlined how the funding could help foster a culture of innovation and inclusion and help Scotland become a design and product leader.
She also announced that the Spirit group had acquired a contract to produce carbon wing components for the Airbus A320 aircraft, thanks to £2.1million in funding from Scottish Enterprise.
Due to the cash boost, Spirit was able to employ advanced manufacturing technology to secure a new contract that will create 100 new jobs.
The First Minister also pledged a 70% increase in Scottish Government funding for businesses to conduct research and development and outlined plans to make Scotland an early adopter of electric vehicles.
The First Minister said: “I am determined that Scotland leads on the key technological and social changes. I want Scotland to be the inventor and producer of the innovations that shape the future – not just a consumer of them.
“Spirit AeroSystems is an excellent example of a company providing industry-leading expertise and investing in Scotland. It is significant that research and development grant support from Scottish Enterprise has helped the business win this important new Airbus contract.
“R&D drives innovation, which in turn boosts productivity and economic growth. That is why R&D support from our enterprise agencies will increase almost 70% – from £22 million to £37 million per year. We expect this additional £45 million over three years will unlock a further £270 million R&D expenditure by companies
“We need to not only embrace technological innovations, we also must ensure that economic growth is inclusive – so that everyone benefits and has a fair chance to contribute. In the coming weeks I will set out further plans for Scotland’s economy and how we can make further progress towards achieving both of these key aims.”
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