HIE approves £1.9m for Elgin Business Park
Long-term aspiration for a business park on the outskirts of Elgin looks set to become a reality.
Last updated 11th Jul 2017
Elgin Business Park has secured a £1.9 million investment from Highlands and Islands Enterprise (HIE).
The HIE funding will go towards the £6.8 million cost of creating the infrastructure to enable the first phase of the development to begin at Barmuckity Farm, on the east side of Elgin towards Lhanbryde.
Phase one will involve developing a 66-acre section of the full 125 acre site. Development of the full site will support an estimated 32 full time equivalent jobs in the construction industry.
It is anticipated that Elgin Business Park will have a variety of uses including industrial, office, warehousing, hospitality and retail premises. It is expected to take around seven years to complete - ultimately creating hundreds of jobs.
The need for a business park has been a constant for the past 15 years. It has featured in both the Moray 2020 strategy (2005) and the more recent Moray Economic Strategy (2012).
David Oxley, HIE’s acting director of business and sector development, said:
“This development will allow indigenous businesses to grow and inward investors to locate in Moray..."
“This is great news for Moray and the realisation of a long-standing aspiration.
“This development will allow indigenous businesses to grow and inward investors to locate in Moray. It will create jobs and retain skills and help Moray become more diverse, competitive and resilient.
“We are very pleased to see this private sector led development reach this stage and delighted to be able to confirm our support.”
Councillor John Cowe, Chair of Moray Council’s Economic Development and Infrastructure committee, and of the Moray Economic Partnership, said:
“This is the trigger we have been hoping for to get this project going, and I’m delighted that HIE have made it happen.
“As members of the Moray Economic Partnership we are all pushing in a number of directions to improve the local economy, but Barmuckity is a big part of our agenda in this regard.
“With the adjacent £86 million Elgin Flood Alleviation scheme now complete and thoroughly tested, businesses can have renewed confidence in locating their operations within this new development.”
Elgin Business Park will complement the Enterprise Park Forres, 14 miles to the west, which is targeted at knowledge based companies in the life sciences, business services and engineering sectors