Lanarkshire AI Growth Zone secures £300 million package

The UK Government and partners have announced a £300 million financing package for the Lanarkshire AI Growth Zone, alongside Dell Technologies’ plan to base its Scottish team in the area.

• The package includes a £202 million guarantee from the National Wealth Fund, unlocking £300 million in financing from ING, ABN AMRO, Santander, the Scottish National Investment Bank and Siemens Financial Services.
• DataVita will expand its existing DV1 datacenter and build a second facility; the development is expected to support more than 3,400 jobs and the first facility is said to complete this year.
• Dell Technologies will move its Scottish team to Mercury House in the Lanarkshire AI Innovation Park.
• The article also says the site is intended to be among the first AI Growth Zones in the UK and that a £543 million community fund is in the works.