A team of experts who will steer Glasgow’s economic development over the next decade has been unveiled.

The Glasgow Economic Leadership Board has been established by Councillor Gordon Matheson, Leader of Glasgow City Council, in response to an independent report which set out a range of measures aimed at helping the city harness its strengths, renew its economy and identify new trade and investment opportunities.

It will be chaired by Professor Jim McDonald, Principal of the University of Strathclyde, and members include Benny Higgins, Chief Executive of Tesco Bank; Keith Cochrane, Chief Executive, The Weir Group PLC; Jim McColl, Chairman and CEO of Clyde Blowers Capital; and Stuart Patrick, Chief Executive of Glasgow Chamber of Commerce.

The board will oversee the implementation of a new strategy aimed at supporting the city’s economy over the next 10 years.

This will be based on the findings of the Glasgow Economic Commission, a high-level independent group which issued a report earlier this year after a widespread nine-month consultation with city businesses.

According to the report, Glasgow has a bright future based on the city’s success in generating private sector employment since 2000 – during which time Glasgow has generated more jobs in total, including twice as many private sector jobs, than its main UK competitors Birmingham,Manchester and Leeds.

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A list of 29 key recommendations and 12 other areas for consideration were contained in the report, focusing on seven key strategic level issues:

* Private sector leadership – recommends the creation of a new private-public leadership to focus the economic development efforts of the City Council, Scottish Enterprise, Glasgow Chamber of Commerce and others to deliver on the city’s economic potential, reinforcing that Glasgow is “open for business”.

* Key growth sectors – five priority sectors which should be developed further to provide the greatest economic and employment opportunities, named as:

- Low carbon industries, with Glasgow as a global hub

- Engineering, design and manufacturing

- Life sciences

- Financial and business services

- Tourism and events

Announcing the membership of the new board, Councillor Matheson said: “The Economic Commission will become the blueprint for economic development in Glasgow over the next few years so it’s vital we have the right people in charge of making sure it stays on course. Glasgow’s economy has been a remarkable success story over the last decade with investment, growth and employment all rising faster than our competitor cities, and we clearly want that success to continue.

“The members of the board are among the best in their fields and I’m confident that they will ensure we send out a strong message to the world that Glasgow remains open for business. It’s yet another illustration of the unique strength of the partnership which exists across all of the major players in the city.”

Professor Jim McDonald said: “The Economic Commission identified major opportunities to grow Glasgow’s economy and bring value to the city and its citizens. The next stage is to make these a reality.

"Glasgow Economic Leadership brings together leaders from across the private sector with the council, other agencies and the academic sector. I am privileged to have been asked to chair this influential group. Our role is clear: to help drive investment and jobs in the city by working with the private sector to the benefit of the city’s businesses, institutions and people.”

Stuart Patrick said: “Setting up this Leadership Board was the first recommendation of the Glasgow Economic Commission. We called for and supported the work of the Commission, and so we’re delighted that the recommendations are being so quickly implemented. Glasgow is not unfamiliar with business and local government working together, and this is another welcome development in that history. Times are still tough, but the Commission shows that we are doing what we can do for ourselves. It is undoubtedly a staging post in the city’s economic renaissance.”

(GK)