North Lanarkshire has one of the fastest growing economies in Scotland with GVA increasing by 118% over the last two decades. The number of registered enterprises in North Lanarkshire has also increased from 6,760 to 8,420 between 2010 and 2022.

Businesses across the authority have a combined turnover of almost £16 million (6% of all Scottish business turnover), with nearly half of North Lanarkshire's businesses operating within the retail, construction, scientific and technical services industries. 

The remaining sectoral mix fairly evenly spread between a diverse range of sectors such as administrative and support services, transportation and storage, accommodation and food services and manufacturing. 

Demand for commercial space in North Lanarkshire is high. With almost 25 million square foot of industrial floorspace, the rate of vacant industrial units is at a historic low of 3.5%.

Added to this, North Lanarkshire has over half (53%) of all available marketable land in the Glasgow City Region.

Recommendations

In order to promote inclusive growth over the next five years, the 2023-2028 Economic Regeneration Delivery Plan recommends: 

• Promoting a mix of development across our motorway corridors and accessible business locations to support the development of out foundational economy as well as high-end growth.
• Continuing to support enabling investment which bring our vacant and derelict land and brownfield sites into commercial use.
• Improving how we record and respond to enquiries from businesses to provide a coordinated approach across relevant council services to help attract, retain and expand businesses and employment opportunities.
• Building upon work which supports innovation and skill development through the development of sectoral learning academies
• Supporting investment, via our Arm's-Length External Organisations (ALEO's), that will continue to improve, modernise and expand commercial stock availability across North Lanarkshire 

Added to these activities, it is also intended to undertake a full review of sites allocated for business and industry within the current Local Development Plan (LDP) to inform the preparation of the next LDP and ensure that we have suitable sites available to attract and retain businesses and employment opportunities.