The International Financial Services District (IFSD) is a £1 billion project, creating a highly attractive environment for indigenous and overseas firms in finance and related sectors. It involves the total transformation of a derelict area of dockside at the Broomielaw into a vibrant, sustainable modern city district.
As a pre-equipped business area, it is designed to allow fast track occupancy by global firms seeking a new UK location for their operations.
Covering approximately one square kilometre between St Vincent Street and the River Clyde, the IFSD is a ten year project which will deliver:
- over 2 million sq ft of new office space
- 20,000 new jobs
- a £50 million investment in the broadband network; and
- a highly trained, flexible workforce through skills initiatives
Since the launch of the IFSD, over 15,000 jobs have moved in to the district through new investment, expansion and diversified development.
IFSD is the catalyst for regenerating the Broomielaw and the west city centre area. Complementary activities such as residential, commercial and leisure uses are being encouraged, bringing life and activity to the area outwith normal office hours.
Several of the world's leading financial companies now have a presence in Glasgow including:
- Morgan Stanley
- JP Morgan
- esure
- Direct Line
- Barclays
- ACE
- Lloyds TSB
- BNP Paribas
- Aon
- National Australia Group (which has the head office for Clydesdale Bank and the headquarters for its European operations in Glasgow).
Their presence underlines Glasgow's credentials as a leading centre in the financial industry. Over 30,000 people work in Glasgow in financial services, representing 1 in 13 of all employees in the city.
The IFSD is being developed by a partnership comprising Glasgow City Council, Scottish Enterprise Glasgow, Scottish Government, Scottish Development International, Scottish Financial Enterprise and a range of private sector property developers.
Further information available at www.ifsdglasgow.co.uk.