Moray Growth Deal’s £100m investment to spur sustainable and inclusive economic development

This investment, backed by both the Scottish and UK governments, aims to foster sustainable, equitable, and inclusive economic growth. A new place prospectus has been launched to attract the best partners to drive forward growth and opportunities.

‘Invest in Moray’ highlights the transformative, once-in-a-generation change that is already underway following the multi-million Moray Growth Deal funding allocation. It will build on Moray’s strengths to facilitate sustainable, fair and inclusive economic growth.

Of eight Growth Deal projects, two are already up and running: a fleet of electric buses offering on-demand services and The Rural Centre of Excellence for Digital Health and Care Innovation piloting smart technology for health and social care.

Those coming forward at pace include:

• Moray Aerospace Advanced Technology and Innovation Campus;
• the Manufacturing Innovation Centre for Moray;
• a Business Enterprise Hub;
• and an Early Years Science, Technology, Engineering and Maths initiative to inspire young children in these sectors.

These projects will support businesses and foster skills which have been identified as key to the region’s economic growth. A Cultural Quarter for Elgin will also be established and more than 300 homes built.

The Growth Deal is fuelling wider growth opportunities, all outlined in the prospectus, including potential for more than 6,000 homes across a diverse range of sites – for which developer partners are needed.

Partners are also being sought to create new employment land to support start-ups and businesses seeking to relocate and expand within Moray’s main settlements.

Cllr Graham Leadbitter, chair of Moray Economic Partnership, said: “With huge investment coming from the Moray Growth Deal, our region is set for further impressive growth.

“For our communities, we are creating jobs, workspace, homes, culture and leisure activities, so that our area – which already attracts so many visitors and new residents – can provide a truly unprecedented quality of life offer.

“Opportunities are opening now for existing businesses and developer partners, and those who want to locate here. We’d be delighted to hear from you if you can join with us to progress our vision for Moray.”

To attract the best companies, the prospectus highlights reasons to invest, work and live in Moray.

It details the fantastic business base and talent pool. With more manufacturing jobs per head of population than any other part of Scotland, Moray is Scotland’s manufacturing powerhouse. The food and drink sector offers 60 whisky distilleries, more than half the total number in Scotland.

High growth sectors include space, life sciences, and the UK government is investing £3 billion in RAF Lossiemouth bringing in new aircraft, 2,000 jobs and 4,000 more people to live in Moray.

Hospitality, tourism and leisure businesses account for 10% of total employment, with visitors attracted by accessibility, stunning location, cultural attractions and outdoor activities. Quality of life is outstanding and Moray has been ranked number one on the UK Prosperity Index for its natural environment, woodland planting, sense of belonging within its communities and many personal freedoms.

Given the Moray-wide commitment from business and communities to transition to net zero by 2045, sustainability initiatives are presenting a raft of opportunities. A total of £2m has been awarded to 22 community projects from Scottish Government’s Just Transition Fund. Major investment in renewables means that 40% of Scotland’s electricity will be supplied by Moray East Offshore Windfarm and 30% by Moray West Offshore Windfarm.

The new Inverness Airport train station has made Moray more accessible than ever, shortening journeys from Elgin to Inverness International Airport to 45 minutes. Rail services and roads connect Moray quickly and easily to all parts of the UK.