Final Business Case For Inverness and Cromarty Firth Green Freeport Endorsed
12th June 2024
Members of the Council's Economy and Infrastructure Committee have endorsed the Final Business Case (FBC) for the Inverness and Cromarty Firth Green Freeport, signifying another major step forward in the development of Highland as a global centre for Green Energy and inward investment.
Chair of the Economy and Infrastructure Committee, Cllr Ken Gowans welcomed the report. He said: "The finalisation of the Final Business Case marks a major milestone in the delivery of the Inverness and Cromarty Firth Green Freeport, which together with our £2billion Highland Investment Plan, will bring transformative change through economic regeneration and sustainable growth in employment across the Highland region.
"With some 520 hectares of land for development, the proposals are estimated to deliver over £6.5bn of investment over the next 25 years, enable 18,300 long-term jobs to be created across the UK and provide Non Domestic Rates (NDR) revenues of £547m for additional investment in Highland.
"This will significantly reverse population decline and attract new skills and innovation industries and there is already work underway to create career pathways and partnerships to develop the future workforce of the Highlands to meet current and future business demand, attracting public/private investment and best practice."
Members considered an update on the progress with the Inverness and Cromarty Firth Green Freeport (ICFGF) following Council approval of the Outline Business Case (OBC) stage in October 2023, and formal designation of the tax sites in April 2024.
The formal designation and finalisation of the legal status of the Green Freeport tax sites came into effect on 8 April 2024. This makes live the tax incentives and allows businesses developing the sites to benefit from them. The recent announcements of the development of the Sumitomo Cable Factory at Nigg, as well as the additional investment secured at the Ardersier Yard are strong signs of the potential that the Green freeport can deliver.
The FBC adds more detail to the overall ICFGF project outline. The purpose of the FBC to put in place the management arrangements for the successful delivery of the project's outputs and activities.
The endorsement of the Final Business Case will be put to full Council for ratification at its meeting on 27 June.
Calum MacPherson, Chief Executive of Inverness and Cromarty Firth Green Freeport (ICFGF), said: "We are grateful for the continued support of The Highland Council. From the outset Inverness and Cromarty Firth Green Freeport has been a great example of the public and private sectors coming together for the long-term benefit of the Highlands and Scotland.
“Our full business case will now be submitted to the Scottish and UK governments for further consideration."
A link to the agenda and papers for the Special meeting on 11 June 2024 can be found at https://www.highland.gov.uk/meetings/meeting/4996/economy_and_infrastructure_committee
Related Businesses
Related Articles
Aarons of Wick Ltd informed The Highland Council at lunchtime on Friday 4 October that with immediate effect they were unable to continue to operate any school or public service journeys which require a full-size bus. The Council has sourced replacement services from Dunnetts Transport for the Reay - Thurso and Bower – Castletown – Thurso services.
New funding for critical infrastructure projects that will help boost employment, empower communities and ensure a sustainable future for Scotland's island communities has been announced by First Minister John Swinney. Ten projects have been awarded a share of the Scottish Government's £3 million 2024/25 Islands Programme Fund.
Council Leaders have (27th September 2024) withdrawn support for the Scottish Government's revised National Care Service Bill. The Bill is currently being considered by the Scottish Parliament.
A new contract has been awarded to Perthshire's Wyllie Recycling Ltd for the provision of mixed plastic and metal container recycling services and haulage in Highland. This includes plastic bottles, pots, tubs, trays, metals tins, drink cans, aerosols and food and drink cartons which are collected in the new green recycling bins.
The Highland Council is asking any businesses, companies or organisations who are planning to hold any type of market, including Christmas or festive type markets, to contact the Licensing Service to check if they require a market operator's licence. If a licence is required, organisers will have to have applied for, and had this granted, prior to the market taking place.
The Highland Council Trading Standards service is urging motorists to be aware of a recent trend in scam texts aimed at tricking people into thinking they have to act quickly to pay a parking penalty charge notice (PCN). The text asks you to pay the PCN which has been issued by "a local Council".
Members at meeting of The Highland Council 919 Septmber2024) agreed a refined strategy and action plan for the Council's approach to Community Wealth Building. The Community Wealth Building Strategy 2024 - 2027 provides an alternative approach to economic development and a practical response that aims to keep wealth within a local area.
Following a process of review, including extensive stakeholder engagement, The Highland Council has completed an options appraisal on the future of Thor House in Thurso. The Council can now confirm that it intends to reinstate the property as a short break house for children with disability.
At the Education Committee today (Thursday 12 September 2024) Members agreed to the recommendation to transfer Youth Work and Adult Learning to the Council from High Life Highland. The final contract review report will come to the Committee in November 2024 for consideration.
The Education Committee met today (Thursday 12 September 2024) and agreed the Community Learning and Development Plan 2024-2027. Community Learning and Development (CLD) plays an important role in ensuring individuals, families and communities reach their potential, through lifelong learning, mutual self-help and community organisation, ensuring support and opportunities are community-led and built around people's individual and collective aspirations.
