A £31.8billion pipeline of potential investment could transform the South of Scotland’s economy over the next two decades, creating thousands of jobs and putting the region at the forefront of clean energy, advanced manufacturing and technology.
The South of Scotland Regional Transformational Opportunities report identifies 202 potential investment projects across Dumfries and Galloway and the Scottish Borders, with a combined value of £31.8bn.
The opportunities could support an estimated 73,900 construction FTE job years and a further 7,900 operational FTE jobs.
Key opportunities include clean energy, energy transition, AI, deep tech and advanced manufacturing, with the potential to make the South of Scotland a major low-carbon, innovation-led economy.
The report explores the scale of the economic opportunities that could transform the South of Scotland over the next 15 to 20 years, and the conditions needed to deliver them.
The study was commissioned for South of Scotland Regional Economic Partnership by South of Scotland Enterprise (SOSE) and Skills Development Scotland (SDS).
The report sets out the scale of the opportunities, their potential investment, employment and GVA impact, and the infrastructure, workforce and policy conditions needed to realise them.
It covers major investments of regional or national significance, alongside clusters of smaller projects that could together deliver substantial economic change.
The findings will help shape future policy and planning on key priorities for the South, including population attraction and retention, skills, housing and transport.
The findings were discussed today (Monday 5 October) at the Scottish Government’s Convention of the South of Scotland meeting in Dumfries.
Deputy First Minister Jenny Gilruth said: "The South of Scotland is full of ambition, innovation and opportunity.
"This research shows the significant contribution the region can make to Scotland's economic future, with projects that have the potential to attract investment, create jobs and deliver long-term growth.
"We are committed to working closely with regional and local partners to make the most of the South of Scotland's unique strengths and opportunities."
Councillor Stephen Thompson, Leader of Dumfries and Galloway Council, said: “This report highlights the scale of the opportunity before us and reinforces the South of Scotland’s potential to play a leading role in Scotland’s future economy.
“Through our commitment to community wealth building, we want to ensure that investment helps create fair work, supports local businesses, develops local supply chains and retains more wealth within our communities.
“We will work collaboratively with our partners, but for my region of Dumfries and Galloway in particular, the prospect of attracting significant investment across clean energy, advanced manufacturing, technology and innovation offers the chance to create high-quality jobs, support our communities and strengthen our economy for generations."
Councillor Scott Hamilton Depute Leader, Scottish Borders Council and Executive Member for Economic Growth and Developing the Borders, said: "I welcome this report which demonstrates the vast opportunities for investment in the South of Scotland.
"By working together with our partners, we will secure the investment needed in our infrastructure, skills and services, so that we can unlock our full potential.
"Through this collaborative approach we will build sustainable growth, create high-quality jobs and ensure the benefits are felt across the region.”
Russel Griggs, Chair of SOSE, added: “This report highlights the scale of opportunity we have in the South of Scotland, and it can only get bigger and better.
"Given the right investment, and the housing, transport and skills to support it, it will help the South of Scotland’s economy grow even further and make a powerful contribution to Scotland’s national economy and growth ambitions.”
Greig Robson, Regional Skills Planning Lead for the South of Scotland at SDS said: “The report illustrates in detail the potential for growth that exists across the South of Scotland in the coming years but also makes clear the challenges that must be met if that potential is to be realised.
“Investment in the regional workforce is fundamental for the future prosperity of the South of Scotland, ensuring that people have the right skills to take advantage of the opportunities available in a changing economy.
“SDS is committed to working with employers and partners to help the region develop the workforce it needs to maximise those potential benefits."