The city of Dundee is the fourth largest in Scotland and lies in the North bank of the Fifth of Tay that empties into the North Sea. The 2006 population estimates placed the metropolitan population at 159,522. A population peak of 182,204 has been recorded in 1971 that declined rapidly due to outward migration. Today, the city promotes itself as the ‘City of Discovery’ given its scientific prowess as witnessed in the RRS Discovery; Robert Falcon Scott’s Antarctic exploration vessel, biomedical and technological industries that account for 10% of the UK’s digital entertainment industry and its two world class universities, the University of Dundee, a leading research institution, and the University of Abertay Dundee. An influential US think tank chose the city as one amongst the seven most intelligent communities in the world.
The City’s council has a plan for the fiscal year 2010/2012 with an approval date of Monday 24 May 2010. The plan provides a strategic overview of how the council will deliver services and shape the future of the city and work through the Dundee Partnership to deliver the Single Outcome Agreement with the Scottish government. The overall aim of the plan is to create jobs and continue the city’s modernization and cement Dundee’s position as a strong regional center. In addition, it seeks to find new and efficient ways of delivering and modernizing council services.
Key sectors in its economy include Biotechnology, Civil service, Digital media, Financial services, Manufacturing, Oil and Gas, Renewable energy and the Retail Industry. The Regional Selective Assistance (RSA) is the main investment grant scheme for businesses in the designated areas of Scotland; Tier 1, Tier 2 or Tier 3. It offers financial assistance to Small and Medium enterprises cities such as Dundee and other areas.
The city is home to significant Biomedical and Life sciences community in the UK outside of Oxford and Cambridge with a £13 million Wellcome Trust Biomedical Research Center, one of Europe’s foremost teaching hospitals. Telecommunication industry players include Telewest, Scottish & Southern Energy, BT, NTL, LWC Internet and ScotlandonLine. It has world class Oil companies that operate from the North Sea with operations in exploration of gas as well. Businesses within the boundaries of the city’s council may be eligible for a business rates relief for small businesses dependent on their rateable value. This is according to a relief scheme to be introduced by the Dundee city council.