HIE BRINGS FORWARD £2.5M DEVELOPMENT TO AID ECONOMY

24th December 2008

Highlands and Islands Enterprise (HIE) announced this week that it has brought forward construction of a ý2.5m state-of-the-art business unit on The Enterprise Park, Forres in Moray.

The move follows last week's announcement by the agency that it intends to accelerate its capital spending programme where possible to alleviate the current slow down in the construction industry.

HIE's chairman Willy Roe explained: "This is a project we intended to progress in the 09/10 financial year, however we have all the planning permissions already in place and agreement from our partners that it fits the Moray 2020 strategic plan.

"We have been examining our budgets and our proposed spending schedules for this year and next, to see where there may be projects that we could feasibly accelerate for the benefit of the local economy. This is the first one, and we hope to identify others."

The project may be eligible for a 40% contribution from European Regional Development Fund.

HIE has developed a number of units on The Enterprise Park, Forres, with the latest three completions all at stages of agreement with prospective tenants.

The new building will comprise 10,000sq ft, suitable for use as a general office, or for light industrial or laboratory/research activity. It will be built in line with HIE's sustainable construction policy to incorporate a ground source heat pump, double glazed panels and making maximum use of natural light.

Moray MSP Richard Lochhead said: "This is the kind of intelligent use of public money that will help the Highlands and Islands out of recession and into recovery as quickly as possible. I fully support HIE's swift and decisive action and hope there may be other projects across the region that can be brought forward for the benefit of local businesses."

It is hoped that work on the new unit will start in January 2009 through the framework agreement that HIE holds with construction company Rok. The unit should be completed by the autumn.