In 2018 the Blue Economy in EU directly employed close to 5 million people and generated around €750 billion in turnover and €218 billion in gross value added. Fife Council is a key partner in EU CLIPPER identifying diversification for SMEs in regions previously reliant on shipbuilding and heavy engineering.
Fife's world-leading subsea engineering capability derives from the presence of major players in North Sea oil and gas industry. This underlying strength is now extending into other offshore renewable energies with over 2.5GW of wind farms in construction or planned off the coast of Fife. Tidal power devices are also being built and a unique tidal turbine blade testing facility is being built at Rosyth by University of Edinburgh and Babcock. The University of St Andrews lead the Marine Alliance of Science and Technology for Scotland works alongside industry in promoting approaches to decommissioning of offshore oil and gas platforms.
Spin outs from the University and the Scottish Oceans institute provide environmental services in support of sustainability in the marine ecosystem. The D’Arcy Thompson simulator at the Eden Campus fosters new techniques for innovation in the marine environment. Other activities support areas aquaculture, cultivation of algae and other near shore activities.