Scottish green freeport hails ‘key’ milestone

The funding will be used to redevelop three sites, spanning Grangemouth, Rosyth and Mid-Forth (Leith and Burntisland), which have been affected by industrial decline, with a focus on renewable energy. READ MORE: Scott Wright: What does future hold for hospitality chains?[1] The business case comes after the green freeport, one of two in Scotland alongside in Inverness and Cromarty Firth, officially opened in June, when its outline business case was approved by the Scottish and UK governments.

That granted FGF special tax designation allowing it incentivise companies[2] to establish bases and create jobs in an area covering 550 hectares. Sarah Murray, the green freeport’s newly installed chief executive, said: “This is a key milestone. Our detailed FBC will, following approval, help unlock the important seed capital required to accelerate the opportunity to attract inward investment into the Forth Green Freeport areas.

“This is a long-term project and through our thorough economic analysis, we know it will deliver significant benefits to both the local communities and the country as a whole. I am proud to lead this project, working in collaboration with our committed partners, to deliver this major economic regeneration opportunity. Although our FBC submission is a great step forward, we still have plenty to do over the coming months including the appointment of a strong delivery team.”

READ: Huge Oasis shows will put hotel industry under pressure[3] Dame Susan Rice, chair of the FGF, said: “Our FBC outlines in fine detail how we will deliver our shared vision. Through strong public and private partnership and robust governance, Forth Green Freeport operates with the highest level of integrity which will be further reflected in our robust fair work and investment principles and our commitment to decarbonising the Forth area and to deliver for the local communities.

“The seed funding will be wisely invested to ensure that we maximise business growth in areas of underdevelopment to breathe new life into them and open opportunity for everyone.”

References

1. ^ Scott Wright: What does future hold for hospitality chains? (www.heraldscotland.com)
2. ^ companies (www.heraldscotland.com)
3. ^ Huge Oasis shows will put hotel industry under pressure (www.heraldscotland.com)