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New jobs for Glasgow
20/08/2009
A Regional Selective Assistance (RSA) grant of £5 million to Tesco Personal Finance will support an investment of £10.2 million and the creation of more than 800 new jobs in Glasgow.
First Minister Alex Salmond opened the Scottish headquarters of Tesco Personal Finance, the UK's largest supermarket bank, in June this year where he announced jobs would increase from 250 to 450 over the next year.
The FM said:
"Today's announcement of 800 new finance jobs and a new Glasgow office for Tesco Personal Finance is a clear sign of the strength of our financial services and the confidence that Scotland retains in this sector, largely due to the skill and expertise of our workforce.
"The Scottish Government strongly supports the growth of Tesco Personal Finance and investment in Scotland which is why we awarded this £5 million RSA grant.
"Tesco is already Scotland's largest private sector employer with more than 26,000 staff across the country. The growth of its financial services arm brings an additional, total job creation of 1200 in the last twelve months for Scotland.
"Glasgow now has nearly 900 new jobs in a strong and fast growing company. The economic benefit of this for the city is hugely significant, particularly in the current economic climate. It will reinforce our strong and leading reputation in financial services, attract further investment and of course provide more than 800 people with jobs.
"I have no doubt of the continued success of Tesco Personal Finance and I am delighted that Scotland and its workers are part of that success."