Today George Osborne is to announce a funding boost of £18m for life sciences and a new business centre during a trip to the city.

He is there to attendee the Commonwealth Games Business Conference where he will explain the plans and suggest they could create 30,000 new jobs.

Gordon Matheson, the Glasgow City Council leader, has voiced his support for the funding saying, “The City Deal will transform the Glasgow City region. This will mean not only better health for Glaswegians but, crucially, more sustainable, high-value jobs.”

The plans will include:

  • A £16m contribution towards the new Stratified Medicine Imaging Centre of Excellence

  • A £1.2m contribution to the MediCity Scotland facility

  • A £1.7m contribution towards the new Centre for Business Incubation, Development and Recovery in Glasgow’s Merchant City

There will be further funding coming from local partners, such as the Scottish Government, Scottish Funding Council, Glasgow City Council, the University of Glasgow and the University of Strathclyde.

The Scottish Finance Secretary, John Swinney said: “This funding builds not only on the £1bn of Scottish government investment in the new Southern General Hospital without which these new life sciences investments would not be possible, but also on the excellent reputation of Scotland’s universities which make Scotland the best educated country in the EU.

“The Scottish government has committed to match in full the funding announced last month for Glasgow’s City deal, a proposal which we understand consists of just £15m a year for the first five years, with future years’ funding contingent on a review at the end of the first five-year period.”

Image by Mars P.