GCU hails historic investment in Glasgow

04 July 2014

The City Deal project will drive innovation

The City Deal project will drive innovation

Glasgow Caledonian University has welcomed the investment of more than £1 billion in the city of Glasgow.

The new money is part of a City Deal project which will be used to fund major infrastructure projects, drive innovation and growth through the support of key sectors such as life sciences, and address challenges in the local labour market.

It will also help to boost the economies of neighbouring council areas.

Principal and Vice-Chancellor of Glasgow Caledonian University, Professor Pamela Gillies CBE said: “This is a tremendous vote of confidence in the people and leadership of Glasgow.

“The additional economic activity will also be an important contribution to the social development of the city. It will help tackle inequalities in health and wellbeing which have bedevilled Glasgow for generations.

“GCU’s research and innovation in social business and health – including facilitating the setting up of the Grameen micro-lending system in Scotland – will also help inform future action by city leaders in this area.”

The UK Government will provide £500 million and the Scottish Government will match the investment. The local authorities involved will borrow a further £130million.

Professor Gillies added: “Every sector will benefit from the new infrastructure fund, including higher education. As a University dedicated to producing highly-skilled “job-ready” graduates – 94.8 per cent of our graduates are in work or further study within six months of leaving – GCU stands ready to play its part in helping Glasgow realise its potential.”