Multi-million pound investment for Moray given seal of approval
The £100m deal has been signed off by Scottish and UK governments
The Moray Growth Deal, which will see £100 million being invested into the area, has been signed off.
Senior ministers from both parliaments signed the Heads of Terms agreement, which paves the way for Moray’s £100m Growth Deal to become reality.
Scotland Office minister Iain Stewart MP, Transport secretary at the Scottish Government Michael Matheson and the Leader of Moray Council Graham Leadbitter all signed the deal earlier today.
It is the first region deal to be signed virtually, as lockdown restrictions prevented the meeting from taking place face-to-face.
Councillor Graham Leadbitter, said the agreement signals confidence in Moray’s economic future.
He said: 'I welcome the commitment from both governments which, with match funding from partners, gives the Moray area an investment of over £100 million.
'This is needed more than ever to help the local economy recover in the long-term from the COVID-19 crisis.'
Iain Stewart MP said the deal will provide 'opportunities that the people of Moray deserve.'
He said: 'Earlier this month I was delighted to announce the UK Government are investing £21m in the Moray Aerospace, Advanced Technology and Innovation Campus, which will create a pathway to skilled aviation engineering jobs for Moray’s residents.
'With today’s landmark signing of the £100 million Moray Growth Deal I am pleased to confirm that the UK Government’s £32.5 million deal investment will also support the development of Grant Lodge - a visitor attraction in Elgin; a Manufacturing Innovation base for Moray; and a digital health and care cluster at Moray College.
'City Region and Growth Deals will be crucial to getting Scotland’s economy back on track after the coronavirus pandemic and the UK Government has committed more than £1.5 billion to Growth Deals across every part of Scotland to secure the future of our economy.'
Michael Matheson said: '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 will be invested in projects, designed by local partners, that can deliver on local priorities, re-invigorating the regional economy, and I appreciate all the hard work that Moray Council and their partners have put in to get us to this point.
'Investments through the deal will create new jobs, protect existing jobs and extend economic opportunities to communities, businesses and individuals across the region. At a time of such economic uncertainty and challenge, the projects and investment committed through the deal will be more important than ever.
'We will work with Moray Council over the coming months, to help them develop the projects to unlock investment and drive inclusive growth across the area as swiftly as possible.'
Depute Chief Executive of Moray Council and lead officer for the Moray Growth Deal, Rhona Gunn, said the signing was a red-letter day for Moray.
'We still have much to do, and this work starts immediately to strengthen the business cases of each project and help shape the final outcomes. I and everyone else will be rolling up our sleeves to deliver this vision for Moray’s future prosperity.'