A TOTAL of £27 million has been invested in businesses which have moved into The Tontine innovation centre, which yesterday marked the first anniversary since it opened.

This figure does not include the £200m funding announced earlier this month by infrastructure firm CityFibre, which has its Scottish headquarters at the facility.

Glasgow City Council leader Susan Aitken was at council-operated facility yesterday and said its success “showed how effective this type of supportive environment is for growing businesses”.

Loading article content

Based at Trongate, The Tontine is an innovation centre which supports the growth of technology, design and manufacturing, and creative companies.

It is now home to 18 businesses and is at 90 per cent of capacity, with economic development manager Simon Smith saying expansion was planned.

By 2021, it is envisaged that 134 businesses will be supported at The Tontine.

This will result in the creation of 536 new jobs resulting in an increased turnover of £53.6m over the term of the programme.