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ANOTHER SUCCESSFUL YEAR FOR INVESTMENT IN FIFE

The 2011/2012 Invest in Fife annual report shows Fife continuing to punch above its weight in delivering major inward and existing business investment in Scotland. Key highlights from the report include; £129.9 million of investment, the creation of 970 jobs, announcement of four major projects and the expansion of Energy Park Fife facilities and transport links.

Invest in Fife continues to work alongside Scottish Enterprise and Scottish Development International to ensure that Fife is recognised nationally and internationally as a great place to do business and the announcement of four major projects reinforces this work. Samsung Heavy Industries (SHI) is to based its first European offshore wind project in Fife, a project potentially worth up to £100 million. SHI have also signed a deal with Clyde Blowers’ owned company, David Brown Gear Systems, to supply gearbox systems for its next generation offshore wind turbines, an operation that will be based at Energy Park Fife. And Meridian Salmon, part of the Polish group Morpol, have acquired the former Lexmark building in Rosyth to become its UK headquarters and salmon processing facility.

Other large-scale projects include assisting two well-established Fife based companies in investment projects; Quaker Oats in Cupar plans to invest £14.4 million including construction of a new factory which began in 2012 and Diageo is to invest £5 million at its Banbeath site to develop a new ‘luxury projects’ bottling plant.

In wider industry developments, a further £16 million is being invested in quayside facilities and coastal defences and additional extension plans to encompass the Methil Waterfront area are also progressing Fife’s strategic commitment to the renewable energy sector in Scotland. Construction of the £3 million Fife Renewables Innovation Centre, built to encourage technology and knowledge transfer, began in July 2011 and is now complete. Plans for a new Low Carbon Investment Park, planned for 2013, will create an additional 15 hectare business park located close to the Energy Park for supply chain companies in the renewables sector.

This period also saw Amazon open its 1 million sq. ft. fulfilment centre in Dunfermline, Amazon’s largest in the UK, which will eventually create up to 750 new permanent jobs and 1,500 temporary jobs during the peak Christmas period. Whilst construction of the new biomass CHP plant at Tullis Russell Papermakers by RWE nPower Renewables in Markinch has been making great progress and is on track to open in 2013.

Fife Council’s Executive Member for Business, Enterprise, Economy & Planning said: “‘This year Invest in Fife has continued to grow on its success and the report outlines the importance of Invest in Fife’s work growing and developing investment in the region. The team will continue to work providing a high quality business location service to new and existing investors.”

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