Regional Economy

Regional economy

North east Scotland is one of the most productive regional economies in the UK with nationally-significant strengths in energy, digital tech, food, drink and agriculture and life sciences.

The regional ambition is to be a confident, productive and diversified economy with high-value employment – a leading business location in the low-carbon economy that maximises the opportunities arising from its sector strengths, quality of people, and natural capital.

Regional Economic Strategy

The Regional Economic Strategy provides a shared vision and ambition for the future of north east Scotland to align commitment, investment and action for economic growth and diversification. The strategy's co-signatories are Aberdeen City Council, Aberdeenshire Council and ONE. The strategy is influenced and shaped by a broader regional collaboration, which includes the national enterprise and skills agencies.

2035 Vision

Our vision is for a regional economy that enables us to thrive. It is leading a just energy transition, diversifying our economy, enabling entrepreneurship and innovation, and delivering a wellbeing economy for our people – a post fossil-fuel future.

By 2035, our economy will be leading the transition to and production of future energy solutions, new green energy and will be diversifying through growth in our digital technology, food and drink, tourism, life sciences and creative sectors.

Aberdeen City Region Deal

The Aberdeen City Region Deal is one delivery mechanism for north east Scotland's economic vision.

Aberdeen City Council, Aberdeenshire Council and ONE, together with the UK Government and Scottish Government, are working to address the challenges of growth and diversification by capitalising on the substantial economic opportunities in the region.

The £250 million deal, co-funded by the two governments, includes £210 million of innovation projects for the oil, gas and energy; food, drink and agriculture; and life sciences sectors.

ONE is the private sector partner in the deal and the lead partner and a co-funder of the ONE BioHub and ONE SeedPod sector innovation projects.