Green freeport reaches ‘exciting milestone’ with Memorandum of Understanding

The Scottish and UK governments have marked an “exciting milestone” for a project that could “deliver thousands of high-quality jobs and attract billions in investment”.

Scottish Secretary Douglas Alexander and Deputy First Minister Kate Forbes signed a Memorandum of Understanding for a green freeport for Inverness and Cromarty Firth.

It is one of two such developments planned for Scotland, with Friday’s signing set to “unlock” £25 million of UK Government cash for the scheme.

Green freeports use tax breaks and other benefits in a bid to attract investment into their areas.

With a focus on the transition to greener energy and technologies, they aim to boost trade and create high-quality jobs.

The planned Inverness and Cromarty Firth Green Freeport (ICFGF) has already helped attract investment to the area, with Japanese firm Sumitomo Electric planning to develop a £350 million subsea cable manufacturing facility at the Port of Nigg, which will create more than 150 jobs next year.

Mr Alexander said that Friday’s signing was “a pivotal moment in the UK Government’s mission to boost economic growth in all parts of the UK”.

The Scottish Secretary said: “The Inverness and Cromarty Green Freeport will transform the economy of the Highlands, as well as playing a key role in our clean energy future.

“Supported by £25 million of UK Government investment, and a range of UK Government tax incentives, this important collaboration between governments and local partners will deliver thousands of high-quality jobs and attract billions in investment.”

Ms Forbes said: “With its focus on the renewable and low-carbon energy industries, Inverness and Cromarty Firth Green Freeport aims to bring up to 11,300 jobs to the Highlands, aligning with the Scottish Government’s flagship Fair Work First policy.”

She said signing the Memorandum of Understanding “marks an exciting milestone as we enter the delivery phase which will bring more business to the region”.

She added: “It is fitting that during Scotland’s National Innovation Week we are opening the door for more companies to innovate in green industries, bringing further regeneration to the Highlands and taking steps to achieving Scotland’s net zero ambitions.”

ICFGF chief executive Calum MacPherson said: “This is truly a historic moment for the green freeport.

“Today’s milestone has been possible because of the shared ambition of many organisations to deliver positive change for the economic prosperity of the Highlands, for our young people and future generations, and for the health of our planet.

“Their tenacity has brought us here today, and their determination will keep us moving forward at pace.

“This is a time to look ahead with optimism, while also reflecting on all that we have already achieved to deliver jobs, investment and supply chain growth.

“We’re proving that the Highlands can compete – and win – on the international stage.”

Highland Council leader Raymond Bremner said: “Today is a landmark moment for the Highlands, Scotland, and the UK. The signing of this Memorandum of Understanding is a powerful signal of shared ambition and belief in our region’s future.”