Submission Documents: By Councillor John Letford:- "Council welcomes the recent announcement of the Scottish National Investment Bank (SNIB) £12.5 million investment in M Squared Lasers, based in Maryhill, a company at the cutting edge of innovation and a recognised world leader in its field. Council believes that science and advanced technologies have a major role to play in Glasgow and Scotland's future economic prosperity. Council further believes that by increasing investment in research and development with a mission-based approach, Scotland has a real opportunity to actively tackle climate change and grow companies providing high value, high quality, low carbon, sustainable employment opportunities. Council notes that Glasgow is already leading the way in this respect, and boasts a globally leading ecosystem of technological, scientific, creative, manufacturing and low carbon innovation. Council further notes that the SNIB is the UK's first mission-led development bank and is being capitalised by the Scottish Government with £2 billion over 10 years. Council further notes that the bank's proposed missions will focus on supporting Scotland's transition to net zero, creating opportunities and reducing inequalities through improving places, and harnessing innovation to enable Scotland to flourish. Council considers that the current pandemic renders the need for mission-led investment even more vital to create a robust, resilient wellbeing economy in Scotland. Council further considers that recognition of the Future of Work and its related challenges and opportunities for workers must be a key part of any investment in new technology, and that this optimises returns not only in performance, but in job quality. Council therefore welcomes the fact that Glasgow is already pioneering the mission-led approach, in partnership with the Scottish Government, Scottish Enterprise and neighbouring local authorities, through the Clyde Mission. Council notes this is backed by an initial £35m of Scottish Government investment which seeks to build on the potential of existing industries; attract international investment and develop a skilled future workforce and create new well paid jobs; bring vacant and derelict land back into use; build on the work of the Connectivity Commission; ensure the Clyde is climate-ready, adaptable and resilient; and harness the river as a source of renewable energy. Council considers that Glasgow's innovation leadership and early adoption of the mission-led approach makes the city ideally placed to benefit from the SNIB's unique investment mission. Council therefore instructs the Chief Executive to write to the chair of the SNIB seeking early engagement with the Council and with Glasgow's economic partnerships to identify opportunities for future joint working and further investment that fulfils both the bank's mission and Glasgow's own ambitions for a green, sustainable place-based, innovation-led inclusive wellbeing economy. Help Icon

This is the list of documents available for the submission By Councillor John Letford:- "Council welcomes the recent announcement of the Scottish National Investment Bank (SNIB) £12.5 million investment in M Squared Lasers, based in Maryhill, a company at the cutting edge of innovation and a recognised world leader in its field. Council believes that science and advanced technologies have a major role to play in Glasgow and Scotland's future economic prosperity. Council further believes that by increasing investment in research and development with a mission-based approach, Scotland has a real opportunity to actively tackle climate change and grow companies providing high value, high quality, low carbon, sustainable employment opportunities. Council notes that Glasgow is already leading the way in this respect, and boasts a globally leading ecosystem of technological, scientific, creative, manufacturing and low carbon innovation. Council further notes that the SNIB is the UK's first mission-led development bank and is being capitalised by the Scottish Government with £2 billion over 10 years. Council further notes that the bank's proposed missions will focus on supporting Scotland's transition to net zero, creating opportunities and reducing inequalities through improving places, and harnessing innovation to enable Scotland to flourish. Council considers that the current pandemic renders the need for mission-led investment even more vital to create a robust, resilient wellbeing economy in Scotland. Council further considers that recognition of the Future of Work and its related challenges and opportunities for workers must be a key part of any investment in new technology, and that this optimises returns not only in performance, but in job quality. Council therefore welcomes the fact that Glasgow is already pioneering the mission-led approach, in partnership with the Scottish Government, Scottish Enterprise and neighbouring local authorities, through the Clyde Mission. Council notes this is backed by an initial £35m of Scottish Government investment which seeks to build on the potential of existing industries; attract international investment and develop a skilled future workforce and create new well paid jobs; bring vacant and derelict land back into use; build on the work of the Connectivity Commission; ensure the Clyde is climate-ready, adaptable and resilient; and harness the river as a source of renewable energy. Council considers that Glasgow's innovation leadership and early adoption of the mission-led approach makes the city ideally placed to benefit from the SNIB's unique investment mission. Council therefore instructs the Chief Executive to write to the chair of the SNIB seeking early engagement with the Council and with Glasgow's economic partnerships to identify opportunities for future joint working and further investment that fulfils both the bank's mission and Glasgow's own ambitions for a green, sustainable place-based, innovation-led inclusive wellbeing economy..

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Name Type of Document Access View Document
Item Minute - 10 December 2020 Minute Public Open Document in PDF Format
(106 KB)

 

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