Scottish and UK Governments agree £100m growth deal for Moray

The investment fund aims to back significant business projects across the region.

A £100m taxpayer investment in Moray has become a reality with the joint signing of a contract by the UK and Scottish governments.

The growth deal aims to back significant business projects across the region.

The terms have been agreed by Scotland minister Iain Stewart, Scotland’s transport secretary Michael Matheson and Moray Council leader Graham Leadbitter.

Welcoming the announcement, Cllr Leadbitter, said: “This is needed more than ever to help the local economy recover in the long term from the Covid-19 crisis.”

Mr Stewart recently announced a £21m UK Government investment in a new Moray aerospace campus.

He said the latest deal would also support the development of Grant Lodge, a visitor attraction in Elgin, along with a manufacturing innovation base for Moray and a digital health and care hub at Moray College.

“Working together with the Scottish Government and local partners, we’ll deliver the prosperity and opportunities that the people of Moray deserve,” he said.

Mr Matheson said the money would be invested in projects designed by local partners to reinvigorate the regional economy.

The deal is the first of its kind in Scotland to be signed virtually by the two governments and Moray Council, due to the coronavirus pandemic.