Global Appeal Of Highlands And Islands Continues
28th September 2023
The current financial year is shaping up to be a good one for inward investment to the Highlands and Islands.
Vicky Grant is HIE's head of international trade and investment. She has posted a blog confirming that four projects have already been confirmed this year, representing combined investment of over £1.1m and expected to bring more than 65 jobs.
HIE also reports a strong pipeline of 50 or so enquiries from companies interested in the region as a location for new inward investment projects, nine of which are at an advance stage of engagement, and a further 60 early-stage enquiries.
Vicky Grant said, "It probably goes without saying that investment from companies owned outside of Scotland is crucial in growing the economy of the Highlands and Islands.
"We only have to look at some of the previous projects led by many of the region's largest employers to see the impact it can have.
"In recent years there's BASF in the Outer Hebrides, Orbex in Moray, LifeScan in Inverness, and Webhelp in Argyll. These are all companies owned elsewhere but making significant investment in the region.
“The current interest in the region continues to be diverse and across many sectors. Space, health technology and life sciences all feature strongly, but energy is definitely the dominant theme."
The blog points to the designation of the Inverness and Cromarty Firth Green Freeport as generating a lot of additional energy related enquiries, not just at the Freeport site but across wider supply chain opportunities around the region.
Earlier this year Japanese company Sumitomo Electric Industries announced plans to establish a subsea electric cable manufacturing plant in the Highlands. HIE is working with Scottish Development International and other partners to help secure this project, which could see £250m in new investment and create 150 new jobs.
Vicky Grant added, "It takes many months, often years, for inward investment projects to come to fruition but with interest at its current level, we can be optimistic about attracting many new projects in the years ahead."
Related Businesses
Related Articles
Shell-volution is an ambitious industry-wide initiative supported by the public sector and the University of the Highlands and Islands (UHI) which has been awarded £4.4 million of investment from the UK Government as part of the Islands Growth Deal. This innovative, ground-breaking project is set to transform shellfish aquaculture, bringing sustainable growth and additional quality jobs in mussel farming, based on detailed investigations (mapping and monitoring) and creating a model for improving security and reliability of wild spat recruitment, through industry best practice.
A Nairn-based foundry, which has achieved international recognition for its larger-than-life bronze castings has invested in a £200,000 expansion to help it reach greater heights. An award of £60,000 from Highlands and Islands Enterprise (HIE) has helped Black Isle Bronze to improve infrastructure and purchase equipment to extend the range of projects the firm can undertake.
Young businesses and social enterprises in the Highlands and Islands looking to increase productivity, innovation and employment can apply for funding from HIE. The fourth round of the Highlands and Islands Enterprise (HIE) Young Business Capital Grant (YBCG) is now open to businesses that have been trading for less than five years with up to 250 full-time equivalent employees.
Ambitious young businesspeople in the Highlands and Islands have just one more chance to benefit from a tailored support programme. IMPACT30 was launched by Highlands and Islands Enterprise (HIE) in 2018 to help nurture and empower the next generation of entrepreneurs.
The winners of the Highlands and Islands Food & Drink Awards (HIFAD) 2024 were announced on Friday 1 November at a prestigious ceremony at the Kingsmills Hotel, Inverness. Supported by Highlands and Islands Enterprise (HIE), the awards celebrate the talent, quality and diversity across food, drink and hospitality in the Highlands and Islands.
A family run engineering fabrication firm in Caithness is investing in a project to improve productivity, grow business turnover and create new jobs. Gow's Lybster Limited has been working with development agency Highlands and Islands Enterprise (HIE) over several years to develop its growth plans.
Highlands and Islands Enterprise (HIE) will return to Norway to host the Scottish Pavilion at Aqua Nor 2025. The Scottish aquaculture supply chain is invited to register their interest to exhibit as part of the pavilion or join the wider Scottish delegation.
A young engineer working on Britain's deepest nuclear clean-up project has been recognised by the Institute of Chemical Engineers (IChemE). Liam Gordon (27) won the Young Chemical Engineer of the Year award at the annual showcase event of the Aberdeen branch of IChemE, the professional body for chemical engineers in the UK.
Food and Drink TechHUB will provide financial and advice support to help businesses, including social and community enterprises, with commercial growth and net zero transition activities. Small to medium sized enterprises in the Highland Council area that operate in the food and drink sector and its supply chain are expected to benefit from a new programme of support launched his week.
Businesses and social enterprises in the Highlands and Islands looking to reduce the environmental impacts of their operations can now apply to a new Green Grant Fund launched on Thursday 26 September 2024. The three-year £2.7m fund was developed by Highlands and Islands Enterprise (HIE).
