Investment is paving the way for new business opportunities in the Aberdeen area. Major investment projects mean that this economic powerhouse will be better connected than ever before and provide better facilities than ever before – making it an even more attractive base for your business.
Aberdeen Harbour is set to benefit from a £350million investment that will transform the port’s facilities. Four new ‘super quays’ will be created in the South harbour area, increasing capacity and providing facilities for larger vessels.
Already Aberdeen Harbour holds the distinction of being Britain’s’ oldest existing business, with a history stretching back almost 900 years – and during that time it has shown the ability to adapt and improve to meet changing needs – and that ability remains today. The harbour investment will create 1,400 metres of new quay – meaning the harbour is set to flourish even further – providing better facilities for existing and new customers.
Today the harbour handles in excess of 25million tonnes of shipping and 4million tonnes of cargo every year which together generate over 1.5 billion for the regional economy, whilst supporting approximately 12,000 full-time jobs. An independent study, commissioned by Scottish Enterprise, however, estimates that the development will generate an additional £1 billion per annum to the economy by 2035, and will create an additional 7,000 equivalent jobs.
The harbour isn’t the only part of the region’s infrastructure to benefit from investment, for a £745million improvement project is underway on the Aberdeen Western Peripheral Route/Balmedie to Tipperty road. Better connections, improved journey times, less congestion, less pollution and improved safety are just some of the benefits emanating from this project, which it is estimated will bring an additional £6billion to Scotland’s North East economy.
The Aberdeen City Centre master plan has been much mooted and it is well underway, the £1 billion vision outlines 50 economic, environmental and social projects that will deliver more business opportunities, greater prosperity and a better quality of life for those in the city. Broad Street has already benefitted from a £3.2million investment, turning it into a key event space which has already been utilised this summer.
Over on Union Street, a five-year building improvement programme for historic properties on the street is taking shape – already an empty shop has been transformed into a restaurant and more buildings will benefit.
This restoration work has been made possible by a Conservation Area Regeneration Scheme (CARS) grant, jointly funded by Aberdeen City Council and Historic Environment Scotland (HES), while the Business Improvement District, known as Aberdeen Inspired, has also provided £50,000 for the Union Street CARS.
Sitting at the heart of the Union Street restoration is the multi-million-pound transformation of the Music Hall, which will enrich the artistic life of the city, bring more people into the city, thereby supporting other businesses in the area and providing opportunities for local businesses to become a part of their supply chain. The Music Hall could also provide a great venue for your next business conference.
More projects in Union Street are set to go ahead – regenerating this historic area and transforming Aberdeen’s main thoroughfare, which is great for the local community and great for business too.
Elsewhere in the city, the Marischal Square £107million development is providing state of the art office space, which could benefit your business, as well as coffee shops, restaurants and a public space with gardens – transforming the heart of the city for business and for leisure too.
We’ve written before about the renaissance underway in Aberdeen and Aberdeenshire and it is gaining momentum. Already this year, Aberdeen has been recognised by the UK Powerhouse study as the ‘best performing city economy in Scotland’.
Yes, this granite city may be known for the significant part it plays in the oil industry – but its economy is diversifying with the life sciences, recreation and life sciences becoming increasingly important. Don’t miss out on the opportunities this vibrant city could provide for your business too.