Strong showing for North Lanarkshire's economy

The area's economy is one of the strongest and fastest growing in Scotland according to the Office for National Statistics

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Gross Value Added (GVA), which is the measure of the value of goods and services produced, increased by 2.2% between 2015 and 2016, rising from £6.38billion to £6.52billion.

This has been generated thanks to growth in following industry sectors;

  • Recreation, other services and household activities (+7.8%),
  • Distribution; transport; accommodation & food (+6.8%),
  • Real estate activities (+4.8%),
  • Information & Communication (+2.5%),
  • Manufacturing (+2.4%),
  • Construction (+2.2%),
  • Public administration; education; health (+1.6%) and
  • Agriculture, Mining, Electricity, Gas, Water & Waste (+1.5%). 

However, two industry sectors have seen a decrease in GVA output: financial and insurance activities (-13.5%) and professional and administrative services (-6.8%), both heavily affected by ongoing digital technologies and consumer behaviours.

Between 1998 and 2016 North Lanarkshire saw the highest level of total GVA growth (121.4%) of all 32 council areas in Scotland.

Cllr Allan Graham, Convener of Enterprise and Housing, said: "We are working hard to support businesses in our area as well as attracting new ones here through a variety of loans and grants. It's clear from the latest statistics that this investment is paying dividends."

Des Murray, Assistant Chief Executive (Enterprise And Housing Resources), added: "North Lanarkshire has so much to offer businesses - we are based in the economic heart of Scotland with class leading infrastructure, highly attractive land values and a skilled and motivated workforce aligned to a range of growth sectors, helping support future shared success.

"Our economy is going from strength to strength, with a further £5bn of planned investment in housing, schools, towns, health, rail infrastructure, communities and digital technologies, ensuring we remain the number one place to Visit, Live, Work and Invest.  We encourage businesses to get in touch with our Enterprise Development Team to find out how we can support them to deliver outstanding growth and success".

A good example of a firm relocating to North Lanarkshire is Cumbernauld based Aquapac. The company designs, manufactures and supplies wooden furniture to UK and international markets.

One year ago the company located from Glasgow and invested £1.3m in the purchase of their new premises and equipment for their manufacturing facility. The company has doubled its turnover to £2.6m.

Stephen Connachan, Managing Director of Aquapac Ltd said: "The £50,000 loan sourced through North Lanarkshire Council undoubtedly helped with our move to Cumbernauld. 

"Our staff headcount has grown from 16 to 36 and our order book is growing as we have increased our manufacturing capabilities.

"We are already looking to the future and the prospect of further expansion and investment." 

For more information contact the Enterprise Development Team:

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