£100m worth of funding has been confirmed for the Moray Growth Deal today (Aug 25).
The UK and Scottish Government will each invest £32.5m with a further £35.8m coming through private investment.
The deal’s Heads of Terms agreement – a key stage ahead of the investment being spent - was signed by UK Government Minister for Scotland Iain Stewart, Scottish Government Cabinet Secretary for Transport, Infrastructure and Connectivity, Mr Michael Matheson, and the Leader of Moray Council, Cllr Graham Leadbitter.
The investment is part of the wider Moray Growth Deal that is set to invest over £200m over the next 10 to 15 years, boosting a wide range of sectors and aiming to create 450 new jobs in the area.
The projects supported by the deal reflect local priorities and ambitions. The UK Government is working with regional partners, such as Moray College, to deliver its £32.5m investment which will include:
- £21m for a Moray Aerospace, Advanced Technology and Innovation Campus, using close links with RAF Lossiemouth to create a pathway to skilled aviation engineering jobs.
- £5m for an innovative Digital Health project that will support the increasing demands and service capacity challenges on public health services.
- £3m for a Manufacturing Innovation base to support the development of process and production efficiencies for businesses.
- £3.5m to support the development of Grant Lodge, a visitor attraction in Elgin that will be part of a culture and tourism-led regeneration of the city centre.
UK Government minister for Scotland, Iain Stewart, 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 £100m Moray Growth Deal, I am pleased to confirm that the UK Government’s £32.5m 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.”
