North Highland Regeneration Fund Announces Another £1million From NDA

4th October 2007

The chairman of the North Highland Regeneration Fund, John Thurso MP in his opening remarks at T3UK on 4th October 2007announced a further £1 million of funds are to be made available to add to the working capital of £500,000 that was injected when the company was set up a year ago. John Thurso enthusiastically welcomed the latest injection of funds by the Nuclear Decommissioning Authority. He pointed to the fact that the first tranche of money had almost all been invested. This larger amount would help the company to continue to assist local businesses to expand or set up and encourage firms from elsewhere to consider re-locating to the area.

The North Highland Regeneration Fund Ltd is the loan fund company established by the Nuclear Decommissioning Authority to help entrepreneurs start up and grow in Caithness & Sutherland.

The first £500,000 will shortly all have been used by making loans to business to set up or expand increasing or sustaining the number of jobs in the far north. Amongst the companies who have already received support are Gow's Lybster Ltd, Robertsons of Tain (Scotland) Ltd, Whaligoe Enterprises Ltd, Woodco Scotland Ltd, Whittles Publishing Ltd.

NHRA will continue to look for businesses to assist with loans as part of the regeneration of the North Highland economy and will work with all of the local agencies where appropriate. As loans are repaid the capital will be re-used and continue to be used for further loans to existing and new businesses.

The directors of the company who are unpaid were all re-elected as follows -
John Thurso chairman, Neil Robertson (New Park), Prof John Fyfe, David Flear (Highland Councilor), Carroll Buxton (HIE CASE), John Farquhar (NDA).

The company has web site www.nhrf.co.uk