'Successful' Year For Investment

Fife Council says the past year has been a success for enticing businesses to come work in the Kingdom.

The region secured 32 million pounds of investment, 464 new jobs, and safeguarding of 275 jobs through securing 10 major new inward investment projects.

Companies received 2.4 million in assistance which helped create 119 new jobs and safeguard 254 existing positions.

The Investments:

• FMC Technologies has made a significant investment in new office facilities at its UK HQ in Dunfermline, allowing several expanded product lines to be collated on one site. 

• FTV Proclad International has invested £6 million in state-of-the-art CNC machines at its facility in Glenrothes and, following the establishment of its second facility in Fife last year,
• Score Europe is building a new testing facility in Cowdenbeath to help increase its market offering.
• 2B Energy secured an investment of €25 million to help establish its UK headquarters in Aberdour and progress development of two further demonstrator offshore wind turbines in the Firth of Forth
• National Oilwell Varco (NOV), who acquired Itasco Precision Ltd in 2013, has expanded operations at its NOV Flexibles factory in Glenrothes.
• John Fergus Company Ltd are currently constructing phase one of an £8.5 million whisky distillery, maturation warehouses and bottling plant in Glenrothes. The project will see the creation of 17 jobs and is expected to generate exports worth £3.6 million.
• Fife’s newest single malt distillery and visitor centre at Kingsbarns is under construction. The distillery is expected to be a significant tourism attraction for Fife and is expected to draw 20,000 visitors a year.

Councillor Lesley Laird, Depute council leader and spokesperson for Economy and Planning said:

“Fife Council and the Invest in Fife team are committed to supporting businesses in the Kingdom and making Fife the best place to do business.

“This year’s success outlines the importance of the team’s work against a still very challenging economic environment. Maintaining our focus on growth and development in the region is important but so too is our continual drive to ensure Fife has availability of skilled labour, premises and appropriate infrastructure and logistical networks.

“Fife Council and Invest in Fife will continue to work with businesses to make them aware of the financial assistance options, advice and support available to them. The Council has a key part to play in working with the business community, Fife College and Opportunities Fife to provide a skilled workforce that can meet the needs of employers, not just for today, but for the future.”