Aberdeen and the North East is to be supported by up to £80 million in targeted investment, tax reliefs and other incentives over five years – after becoming one of Scotland’s first two Investment Zones.
The other area selected by the Scottish and UK Governments was Glasgow City Region.
Investment Zones aim to boost the economy, stimulate business growth and create high-quality, well-paid jobs.
The model is designed to support innovation in sectors such as net zero, digital and life sciences. There will be a strong emphasis on fair work, mirroring the arrangements for Green Freeports.
Councillor Christian Allard, Co-leader of Aberdeen City Council said: “I look forward to working together with our regional economic partners to make sure this Investment Zone delivers for everyone in Aberdeen.”
Councillor Ian Yuill Co-leader of Aberdeen City Council said: “This announcement is great news for Aberdeen. An Investment Zone will play a key role in growing the North East’s economy.”