The government has confirmed the focus of two investment zones in Scotland.

The Glasgow site will be focussed on advanced manufacturing, targeting innovation in the space and maritime fields and in semi-conductor production and the North East IZ will focus on green industries and the digital and tech sectors.

Glasgow City Region is the largest supplier of small satellites in the world, after California. The Glasgow investment zone is expected to generate around £300 million of initial private investment and support up to 10,000 jobs in the region. 

The North East IZ is expected to generate around £1.7 billion of private investment and support up to 18,000 jobs.

Deputy Prime Minister and Secretary of State for Housing, Communities and Local Government Angela Rayner said: "Growing the economy to improve living standards is the number one priority of our Plan for Change, creating opportunities for communities across the UK.

"That’s why we have taken forward Scotland’s two Investment Zones. By building on the amazing strengths Glasgow and North East Scotland already possess, they will attract the investment and drive the growth that people deserve."

Scottish Deputy First Minister Kate Forbes said: "Investment Zones will play a role in attracting private investment, growing Scotland’s economy and creating jobs. They will help to maximise the impact of our world-class universities and colleges, leveraging our existing research and innovation strengths, and grasping emerging opportunities to support growth in the Glasgow City Region and the North East.

"The Scottish Government is providing a package of Non-Domestic Rates Retention at the sites which can be used to further invest in the Zones and their infrastructure.

"We have worked with the UK Government to tailor the Investment Zone model to align with Scotland’s economic strategy, supporting the development of clusters and driving innovation in key sectors such as net zero, advanced manufacturing and digital technologies."