Opportunity North East (ONE), the new private sector led and funded economic development organisation for the region, today (Thursday, January 28 2016) welcomed the City Region Deal (CRD) for Aberdeen and Aberdeenshire.
The work done by ONE, in partnership with Aberdeen City and Aberdeenshire Councils, Scottish Enterprise and the city’s two universities, has secured significant funds for innovation in the region, spanning the priority industry sectors of oil and gas, agri-food, biopharmaceuticals and including big data and internationalisation.
Sir Ian Wood, chairman of ONE, said: “The City Region Deal is built around a medium to long term vision for the economy of North-east Scotland. Today’s agreement is a really strong signal of confidence in the future of our region from the UK and Scottish Governments, particularly in relation to the role that innovation will play in maximising the North Sea opportunity and achieving diversification and greater balance through growth in our other key industries.
“The work done by ONE, in partnership with Aberdeen City and Aberdeenshire Councils, Scottish Enterprise and the city’s two universities, has secured significant funds which we believe will be around £210m for innovation in our region, spanning our priority industry sectors and including big data and internationalisation.
“The oil and gas innovation funds will help to create an international oil and gas technology centre which will support maximising economic recovery in the UKCS and help to transition Aberdeen from an operational base to a major, international centre for offshore technology and innovation. This will anchor the supply chain here for the long term. An early solutions programme will develop new technology to increase production in the North Sea and work with SMEs will stimulate innovation, bring technology to market and expand our supply chain exports.
“The funds for the biopharmaceutical and agriculture, food and nutrition innovation centres will be the catalyst for ONE’s sector activities to help grow these industries and provide a diversified and better balanced economy.
“We strongly supported Aberdeen Harbour Board’s Nigg development, which we see as game changing for the region, and welcome the commitment for this strategic infrastructure project.
“Looking forward, this announcement is only ‘the end of the beginning’ for these projects with some major challenges ahead to translate this funding opportunity into projects of scale and impact to deliver economic growth and secure high quality employment in the medium to long term.
“With regard to the current challenges facing our oil and gas industry, it is extremely encouraging to have the Prime Minister visit Aberdeen to speak to industry first-hand about the specific impacts of the downturn in this region. We look forward to hearing of initiatives he might announce today and to the Chancellor’s budget in March for further measures that can be taken to help the industry though these difficult times,” said Sir Ian.