Scotland's Economy

Investment in Moray

August 24, 2020 by No Comments | Category Employment, Investment, Tourism

Cabinet Secretary for Transport, Infrastructure and Connectivity Michael Matheson signing the Moray Growth Deal Heads of Terms agreement

Today marks an important milestone for the Moray Growth Deal, the signing of the Heads of Terms agreement and the confirmation of the projects supported by the £32.5 million the Scottish Government is investing in the deal.

This funding will be invested in projects, designed by local partners, that can deliver on local priorities, re-invigorating the regional economy.

Investments through the deal will create new jobs, protect existing jobs and extend economic opportunities to communities, businesses and individuals across the region – spreading the benefits of economic growth more widely.

The Scottish Government will be supporting projects that create affordable housing, that promote STEM learning for children and that provide more green efficient and accessible transport to a largely rural area, improving people’s lives whilst protecting our environment.

We will also be providing support for new business start-ups through a Business Enterprise Hub, whilst helping other businesses to grow and diversify successfully, as well as creating a Manufacturing Innovation base for Moray, supporting business growth through innovation and the use of advanced technology.

Alongside this, Scottish Government will invest in the creation of a vibrant cultural quarter in Elgin, including the refurbishment of Grant Lodge and the Town Hall. This cultural expansion will encourage even more people  to visit, boosting the region’s tourism offering, whilst at the same time improving the amenities and cultural offering for local people, supporting the quality of place and the Deal’s ambition to attract and retain young talent.

At a time of such economic uncertainty and challenge, the projects and investment committed through the growth deal will be more important than ever. I appreciate all the hard work that Moray Council and their partners have put in to get us to this important point.

We will continue to work with Moray Council and their partners over the coming months, to help them develop the projects to unlock investment and drive inclusive growth across the area as swiftly as possible to make Moray an even more attractive place to live, work, visit, and invest in going forward.

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