University of Aberdeen Principal, Professor Sir Ian Diamond, has welcomed news that more than 800m of investment could be unlocked by the signing of a funding agreement for the Aberdeen area.
Today’s signing of the Aberdeen City Region Deal commits the UK and Scottish Government to invest £250m over 10 years, with additional contributions from Aberdeen and Aberdeenshire councils.
It is designed to act as a catalyst for economic growth in the Aberdeenshire area and it is estimated the value could be £826m once other investment is factored in.
The University of Aberdeen already offers expertise in key aspects of the plan, which includes the development of:
- Oil and Gas Technology Centre
- Agri-Food and Nutrition Innovation Hub
- Bio-Therapeutic Innovation Centre
The local authorities had delivered a statement of intent in September last year. It is believed hundreds of jobs could be created annually as a result of the agreement.
Sir Ian said: “Today’s City Deal signing is a major milestone for the north east, and for the University of Aberdeen. The University has worked closely with our partners at Aberdeen City and Aberdeenshire Councils on the proposals, with colleagues advising on important themes such as oil and gas, renewable energy, food and drink, life sciences, and big data.
“Our contribution reflects the world-class academic expertise that the University is renowned for, and I am immensely proud that we are playing a key role in the development of a high-value innovation agenda for the region. I look forward to continuing to work closely with our City Deal partners to help secure the area’s long-term economic future.”