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Foreign investment success welcomed

24th May 2016

News that the Highlands and Islands helped make 2015 a record breaking year of inward investment in Scotland has been welcomed by Highlands and Islands Enterprise (HIE).

The latest annual survey by EY shows a record level of foreign direct investment (FDI) projects won by Scotland; up by 51% and job creation up 52% in 2015.

HIE's recently announced year-end figures for 2015-16 showed the organisation helped attract six foreign direct investments which are expected to deliver 218 jobs and secure investment of £111 million for the region.

These include Norbord’s plans to invest £95 million in its Inverness mill and CS Wind UK’s acquisition of Wind Towers Scotland in Machrihanish, which is set to safeguard over 130 skilled jobs and create a further 70. Others include investment at AGM Batteries, creating 12 jobs in Caithness and BASF creating 23 in the Outer Hebrides.

Charlotte Wright, director of business and sector development at HIE, said the region was making a significant contribution to the national picture. She added: "Investment over the years in communication, infrastructure and digital connectivity has helped see the Highlands and Islands emerge as a globally competitive region, attractive to inward investors from around the world. Some of the most recent projects we have been involved in clearly demonstrate the region’s increasing appeal as a place to live, work, study and invest. This in turn is helping Scotland to retain its position as the top location in the UK outside London for foreign direct investment."