NL economy is one of Scotland's strongest

North Lanarkshire's economy is one of the strongest and fastest growing in Scotland according to the Office for National Statistics.

Thursday, 12th April 2018, 5:32 pm
Updated Thursday, 12th April 2018, 5:34 pm
Aquapac Ltd managing director Stephen Connachan (right) is pictured with Shirley Linton, head of Enterprise and Place, and Councillor Allan Graham, convener of the Enterprise and Housing Committee

Gross Value Added (GVA), which is the measure of the value of goods and services produced increased by 2.2 per cent between 2015 and 2016, rising from £6.38 billion to £6.52 billion.

Between 1998 and 2016 North Lanarkshire saw the highest level of total GVA growth (121.4 per cent) of all 32 council areas in Scotland.

Cllr Allan Graham, convener of Enterprise and Housing, said: “We are working hard to support businesses in our area as well as attracting new ones here through a variety of loans and grants. It’s clear from the latest statistics that this investment is paying dividends.”

Des Murray, North Lanarkshire Council’s assistant chief executive (Enterprise and Housing Resources), added: “We encourage businesses to get in touch with our Enterprise Development Team to find out how we can support them to deliver outstanding growth and success”.

A good example of a firm relocating to North Lanarkshire is Cumbernauld-based firm Aquapac which designs, manufactures and supplies wooden furniture for the UK and international markets.

A year ago the company relocated from Glasgow and invested £1.3m in the purchase of new premises and equipment for their manufacturing facility, it has now doubled its turnover to £2.6m.

Stephen Connachan, managing director of Aquapac Ltd said: “The £50,000 loan sourced through North Lanarkshire Council undoubtedly helped with our move to Cumbernauld.

“Our staff head count has grown from 16 to 36 and our order book is growing as we have increased our manufacturing capabilities.

“We are already looking to the future and the prospect of further expansion and investment.”

To contact the Enterprise Development Team call 01236 638945 or email [email protected]