Aberdeen City and Shire is undergoing a renaissance, transforming itself into a modern, well-connected city that will remain a mainstay of both the Scottish and UK economies for many years to come.
As well as benefitting from investment packages that will see the North-east’s infrastructure upgraded, including the Western Peripheral Route and the newly revamped Aberdeen International Airport, innovative programmes aimed at reinvigorating the area’s economy have also emerged.
The entire North-east will reap the rewards of the City Region Deal, a landmark funding agreement signed in November 2016. Furthermore, work has already started on a City Centre Masterplan for delivering 50 projects which will enhance Aberdeen’s economy, environment and infrastructure over the next 25 years.
Popular initiatives like the recent Great Aberdeen Run, the Tour Series, jazz festival and Nuart, a project which saw 11 international street artists bring a splash of colour to the Granite City earlier this year, are adding a tangible vibrancy to the large-scale work being undertaken.
The Deal has given the region a huge dose of optimism. It is enabling us to rebalance the economy by maximising the oil and gas industry’s potential and growing the regions other diverse sectors, including food, drink and agriculture, life sciences and tourism.
The UK and Scottish governments will jointly invest up to £250million while Aberdeen City and Shire councils and local partners will put forward £44million.
The North Sea stands to become one of the key beneficiaries. The city is home to the world’s biggest oil and gas companies and has earned the moniker ‘Europe’s Energy capital’. Whatever happens in Aberdeen, the oil and gas sector will be affected. But it works both ways.
Hosting prestigious events like the biennial Offshore Europe conference and exhibition creates a sense of pride in the city and brings more investment to the area. The Deal will provide financial support for the Oil & Gas Technology Centre (OGTC) which opened its doors in Aberdeen earlier this year. Its strategy is to assist with the development of new products which can make North Sea oil extraction more efficient.
In doing so, it can play a big part in anchoring oil and gas supply chain jobs in the north-east.
The creation of the OGTC will help cement Aberdeenshire’s position as a global leader and innovator in the energy industry. The Aberdeen Harbour expansion project is also being supported by the City Region Deal.
Aberdeen Harbour Board will receive funds totalling £11million from the two local authorities to put towards construction costs. Some £25million has also been made available to Aberdeen City Council for off-site road infrastructure upgrades associated with the project.
Meanwhile, bio-therapeutic and agri-food and nutrition centres are also part of the programme. Aberdeenshire, a stronghold for food and drink companies, will benefit further through the city region deal’s investment in these sectors.
The projects supported by the region deal can deliver annual gross value added increases of £260million across the region and create 3,300 jobs over a decade.
They are a vital cog in making sure the region remains a great place to live, visit, study and do business.
Aberdeen also has a plan to make a great city centre even better. The 25-year City Centre Masterplan will deliver 50 economic, infrastructure, environmental and community projects to the city. It will give Aberdeen a real lift, creating a cleaner, better connected, more dynamic city centre.
Tens of millions of pounds will be invested as part of the first phase of the plans. Research suggests the programme could attract £1billion of private sector investment and stimulate the creation of more than 5,000 jobs.
A prime office, hotel and leisure space at Marischal Square is being built in the bustling city centre. Culture vultures can also look forward to the city’s iconic Music Hall and Art Gallery being redeveloped.
The Masterplan aims to create another 26,500 square metres of open space, and put some more green amongst the granite through the planting of 1,000 trees in places like Golden Square and the Castlegate.
More than £600,000 has been spent on revitalising Union Street, the city’s main thoroughfare, and a further £2million is available for improving the fabric of buildings.
Union Terrace Gardens, a Victorian Park in the heart of the city centre, is in line for a multi-million pound transformation which will improve access while conserving its heritage; and we will continue to compete on a worldwide stage with a £1billion capital programme including major projects such as the new Aberdeen Exhibition and Conference Centre.
There is, as you can see, much to be positive about. Our economy is at a key crossroads and businesses of all shapes and sizes are adjusting to a ‘new norm’ but it is one that is still the envy of many places in the UK today.
We need to celebrate all the things that already make the North-east a great place whilst painting a clear picture of what the future could look like – and therein lies the key to success.
In addition to securing the investment, we need to mobilise our people and businesses to think differently about the region and to become our storytellers. If we could export just one thing, it has to be this positive narrative.
If we are to deliver our renaissance vision, the legacy we want for future generations, we need to continue making brave decisions. We need to develop the next phase of infrastructure projects beyond the billions already committed.
We need to attract people and organisations to bring investment, innovation, skills and jobs here. And we need to remember all the amazing things that already make the North-east one of the best places to be.
Did you know?
n The North-east is one of the top 5 most economically productive regions in the UK
n Aberdeen ranked 5th for economic potential among small European cities
n It has more start-ups than any other Scottish city
n More than a quarter of Scotland’s top 100 businesses are based in the North-east
