Scottish Enterprise has announced plans to approve large grant funding for up to 160 new company projects before the end of the financial year.
Together, these projects have the potential to unlock up to £500m of investment by businesses into Scotland’s economy, creating or safeguarding more than 9,000 jobs.
Scottish Enterprise will contribute up to £140m to these projects over the next two-to-three years. The bulk of the awards will be made to domestic Scottish businesses, with the rest securing new inward investment.
The organisation has already approved large grant support for around 90 projects this financial year, with large grant expenditure expected to top £60m by the end of March.
This is in addition to the £180m which Scottish Enterprise has administered to almost 4,000 companies as part of a £2.3bn package of Covid-19 business support.
The new projects now being appraised cover industries including renewables, technology, engineering, manufacturing