Business News Round Up (06/03/2020)
Investment to double Scottish food and drink tourism spending
Scottish food and drink tourism businesses are set to benefit from £220,000 of funding to help promote the sector. The funding will be used to develop a website with resources and information to help businesses encourage tourists to experience Scottish food and drink, while also supporting industry led work to unlock the growth potential of the sector. The Food Tourism Action Plan, which launched in 2018, aims to double the amount visitors spend on food and drink from £1 billion a year to £2 billion a year by 2030.
https://www.thenational.scot/news/18284447.investment-double-scottish-food-drink-tourism-spending/
Bolton to progress digital city plans
Bolton Council has revealed plans for a ‘super connected digital city’ as part of a £1.5 billion regeneration project, in a commercial joint venture with a private sector developer. Bolton Council believes that the successful delivery of the regeneration project depends on the area being a digital hub for business and people to thrive. The development would represent a sixth ‘intervention area’ of Bolton Council’s £1.5 billion masterplan to transform the town centre by 2030, with other major regeneration schemes at Victoria Square/Crompton Place, Trinity Gateway, Le Mans Hotel, Church Wharf and Central Street.
https://www.insidermedia.com/news/north-west/bolton-to-progress-digital-city-plans
New Scottish manufacturing centre gets green light
Plans have been approved for a new £65 million facility in Renfrewshire to house the National Manufacturing Institute Scotland (NMIS). NMIS aims to support businesses across Scotland and attract investment to secure Scotland’s positions as a world leader in advanced manufacturing. NMIS is a group of industry-led manufacturing research and development facilities where industry, academia and the public sector work together on ground-breaking manufacturing research to transform productivity levels, make companies more competitive and boost the skills of our current and future workforce.
https://www.bbc.co.uk/news/uk-scotland-scotland-business-51757971
Property giant raises £90m for investment in UK’s thriving cities
Manchester based property developer Bruntwood has announced it has raised almost £91 million through the issue of its second retail eligible bond. The bond, which was significantly oversubscribed, included both a cash offer, which raised £58 million, and exchange for holders of the firm’s existing secured retail bond maturing in 2020, which provided an additional £32.9 million. Bruntwood, which has a property portfolio valued at £1.4 billion, was founded in 1976 and provides high quality office space and a network of innovation districts for the science and technology sector across Greater Manchester, Leeds, Liverpool and Birmingham.