Date posted: 23rd February 2016
It’s not very often we hear about cash injections to aid developing the circular economy concept. For several years there has been an increase of interest in renewable energies for example government provided RHI. Now Scottish First Minister Nicola Sturgeon has announced a £70 million investment for manufacturing and the circular economy.
The project to create a new Centre of Excellence of Manufacturing and support for manufacturers in the circular economy will receive funding of £70 million to encourage innovation, improved productivity and increased investment in Scotland.
The intention is to help manufacturers drive innovative technologies and business infrastructure from conception to implementation with the aid of a circular economy investment fund.
Nicola Sturgeon commented: “While manufacturing has undergone a significant transformation in recent decades, with increased globalisation and greater use of digital technologies, it remains a high skills and high wage sector, with earnings that are above the Scottish average.
“Our ‘Programme for Government’ committed us to further action and backed by £70 million of new circular economy funding, the Action Plan outlines how the Scottish Government, our Enterprise Agencies and Zero Waste Scotland will work with industry, and higher and further education institutions to stimulate innovation, productivity and investment.
“Among the key actions in the strategy will be the establishment of a Centre of Excellence of Manufacturing which will act as a hub for continuous innovation to ensure Scotland remains a sustainable and competitive place to do business.”