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He declared that the £75m iQ development in Aberdeen is further evidence of Scotland's resilience in the face of economic downturn.
The First Minister performed the ground breaking ceremony at the site in the heart of the city, which will be transformed into a commercial hub incorporating a Park Inn Hotel and high quality office space.
During construction the development, owned by Hazledene Estates, is expected to create over 150 new jobs. On completion, it will boast enough to accommodate 750 employees. The offices will be joined by the Rezidor Park Inn Hotel, offering 185 rooms that will welcome more visitors to the North East than ever before and which will create around 70 new full time jobs.
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First Minister Alex Salmond said: "This is a tremendously exciting development for Aberdeen and for Scotland. This project is a welcome boost for the construction industry, for employment and to Aberdeen's commercial attractiveness.
"It is a significant investment, which shows that the Hazledene Group recognise Scotland's potential for sustainable economic development. This Government is determined to focus all our efforts on helping to realise that potential. That's why we have refocused our enterprise networks and tourism agency to ensure they make the maximum possible contribution to economic growth. We have also slashed business rates for small business across the country.
"Last week I announced a package of measures to help Scotland meet the immediate economic challenges, promote growth and support business confidence. These included: working with the major mortgage lenders to examine the scope for easing the supply of credit to households and businesses, bringing forward up to £100m of spending through the Affordable Housing Investment Programme, and the bulk purchasing of electricity across the public sector to ensure better value for money and increasing energy efficiency through a range of Government programmes.
"I am therefore delighted to get work underway to develop this site into a commercial hub which will support jobs and attract industry."
The Hazeldene Group development has been designed by the multi-award-winning firm of architects Richard Murphy Architects and is being funded by the Anglo Irish Bank in Scotland.
The development is due for completion in 2010.
(GK/JM)
