Summary
SCOTTISH Enterprise is not usually shy when it comes to taking the credit for multimillion pound investment projects - particularly as they are not so frequent as they used to be. So some may find it strange that chief executive Jack Perry's organisation failed to mention that it was pumping GBP 25m into a scheme to attract a US biotechnology company to Scotland.
Inverness Medical Innovations of Waltham, Massachusetts, will set up a research centre and factory in Stirling, employing 100 people, rising to 500, developing and making home tests for heart disease.See the full content of this document
Extract
An Expensive Prescription
According to the official announcement, the project will be backed by GBP 30m from Intermediary Technology Institute for Life Sciences - one of three commercialisation quangos backed by the Scottish Executive.
But eyebrows have been raised about the size of the investment as it represents a large amount of taxpayers' cash risked on a single project. It is the equivalent of two-thirds of the budget available to ITI Life Sciences chief executive John Chiplin for the next three ye...See the full content of this document
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