Inverness & Cromarty Firth Green Freeport passes final hurdle unlocking £25m seed money
The Inverness and Cromarty Firth Green Freeport (ICFGF).
The Inverness and Cromarty Firth Green Freeport has passed its final hurdle to unlocking ?25 million in seed money to invest in infrastructure. This comes as part of Chancellor Rachel Reeves spending review following the Scottish and UK governments' approval of the full business case. Deals have been signed and developments continued apace ahead of the full approval granted to day with Sumitomo setting up at Nigg and the Port of Cromarty Firth laying out significant plans.[1][2]
On top of that Ardersier is establishing one of the biggest operations in the country[3].
Calum MacPherson, Chief Executive, Inverness and Cromarty Firth Green Freeport.
The new was broken by green freeport chief executive Calum Macpherson, who said: "Great News as part of today's Comprehensive Spending Review the Rt Hon Rachel Reeves confirmed that the full business case for Inverness & Cromarty Firth Green Freeport has been signed off by both the Scottish and UK Governments. The announcement by the Chancellor also unlocks ?25 million in seed funding which will be used to support significant infrastructure projects at our partner ports. This will help to ensure the sites continue to offer world-class facilities for the offshore wind and renewables sectors and compete on the international stage to bring investment, jobs and prosperity to the Highlands and beyond.
While this moment is one worth celebrating, we should also reflect on what has already been achieved before we have reached this point in the process. Inward investment is happening. Jobs have been delivered.
The local supply chain is growing. Inverness and Cromarty Firth Green Freeport is already delivering on its pledge to capitalise on this once in a generation opportunity, and sign off by The Scottish Government and HM Treasury only adds to our ability to do that. Next?
Let's hope the Industrial Strategy builds on the success of the Freeports to date and further supports the energy transition.
A massive thankyou to our partners who helped has get to this point.
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References
- ^ with Sumitomo setting up at Nigg (www.inverness-courier.co.uk)
- ^ Port of Cromarty Firth laying out significant plans. (www.inverness-courier.co.uk)
- ^ one of the biggest operations in the country (www.inverness-courier.co.uk)
- ^ here (www.inverness-courier.co.uk)