The business community in North East Scotland have welcomed a £65 million ‘game changer’ Growth Deal which aims to significantly boost Moray’s economy.
The multi-million pound investment is half funded by the UK Government and half by the Scottish Government and is set to be bolstered by further funding from regional and private sector partners in the area.
It will contribute to developing a thriving economy promoting skills development, energy, culture and tourism as well as aiming to improve connectivity and productivity across the area.
Moray’s Growth Deal bid was launched in 2017 following extensive consultation with those living in the area on their aspirations for the economy.
Led by Moray Council, the bid was supported by Highlands and Islands Enterprise, Moray College UHI, partners from public and third sectors, and private businesses within the area.
Projects to be pursued under the Growth Deal will be confirmed later this year, as part of the heads of terms agreement.
Under discussion are the creation of additional hubs for Moray College that will focus on business enterprise, innovation and advanced technologies, to support emerging sectors in aerospace and aviation, as well as more traditional industries.
Also in the pipeline is the development of a Cultural Quarter in Elgin, a dynamic and vibrant area for both tourists and residents showcasing the abundance of Moray’s quality offering in food, drink and textiles, as well as signposting visitors to attractions and activities across the area.
Leader of Moray Council, Councillor Graham Leadbitter, said the announcement demonstrates national confidence in Moray’s economic future, and paves the way for attracting further investment.
“This is the moment we’ve been waiting for since the idea of a Growth Deal for Moray was first floated.”