SCOTLAND'S Minister for Employment and Investment Tom Arthur was the special guest at a major business event in Ayrshire this week.

The Ayrshire Regional Economic Strategy (RES) was launched in June 2023 and the ‘Making and Keeping the £ in Ayrshire’ event at Ayrshire College in Kilwinning was a chance to explore the journey since it was launched.

The strategy is the first in Scotland to feature Community Wealth Building as a founding principle.

A Delivery Plan was launched in October 2023 to support the RES vision and to set out a series of practical actions.

The Year One Delivery Plan had a total of 46 actions, many with a timescale reaching beyond one year.  To date, 40 per cent of these actions have been completed, with a number of multi-year actions carrying on into Year Two.

Successes included:

  • Strengthened partnership working including NHS engagement on our Regional Strategy Delivery Group;
  • Mapping of business support across the region, including for third sector organisations, with the aim of making this easier to access and understand what is available;
  • Approval of funding for the regional 5G Innovations Region project.

Mr Arthur was one of the keynote speakers and explained the importance of Community Wealth Building in regional economic development.

Angela Cox, principal and chief executive of Ayrshire College, spoke about how skills and innovation are important drivers for economic prosperity for Ayrshire.

Mr Arthur said: “It’s impressive to see how public bodies, businesses and community organisations are working together to drive growth in Ayrshire.

“The Scottish Government is committed to supporting regional economic partnerships to create and sustain jobs and grow local and regional wealth.

"Inspired by the example of Ayrshire, our Community Wealth Building Bill will support this approach to economic development.”

There was also a chance for guests to engage with expert panellists in discussions on skills and innovation, and discover how these crucial elements are shaping the future of our region's prosperity.