Stevenson welcomes £32.5 million Scottish Government investment in Moray Growth Deal

Stewart Stevenson said the Moray Growth Deal had the potential to be "transformational" for the region
Stewart Stevenson said the Moray Growth Deal had the potential to be "transformational" for the region

Banffshire and Buchan Coast MSP Stewart Stevenson has welcomed the announcement of the Moray Growth Deal, which sees the Westminster Government matching the £32.5 million invested by the Scottish Government.

It will see £65 million invested in creating high-value jobs, strengthening local communities and safeguarding the future of the local economy.

The Scottish Government will invest up to £32.5 million in Moray over 10 to 15 years to drive inclusive economic growth across the region, with the UK Government matching the funding over a 15-year period.

The investment will fund targeted economic development activity across a range of themes, including infrastructure, transport, tourism, energy and skills.

Commenting, Stewart Stevenson, whose constituency includes the eastern part of the Moray Council area, said: “The Moray Growth Deal has the potential to be transformational for the region and is a major investment in the area by the Scottish Government, with matching funds from Westminster.

“I’d like to thank all those involved for getting the Moray Growth Deal across the line, particularly those at Moray Council and their partner agencies.

“Separately from the Moray Growth Deal, we also have of course huge investment from the Scottish Government in the Inverness to Aberdeen rail link and also the A96 dualling project, both of which will make Moray and Banffshire more accessible and attractive. It’s clear that the North-east is going places under the SNP Government.”

Further and Higher Education Minister Richard Lochhead, who made the announcement on behalf of the Scottish Government, said: “The Moray Growth Deal will make a real lasting difference to the future of the region and inject confidence into the economy, improving the quality of life for local people.

“Successful delivery of this deal will create new high-value jobs, help safeguard the local economy and strengthen Moray’s communities. I am grateful to Moray Council and all their partners for their hard work in getting to this stage, and I recognise the important involvement of the community in developing the deal proposals.

“We will continue our dialogue with our Moray partners on projects that will have a transformative effect on the Moray economy. We will announce a Heads of Terms agreement as soon as possible, which will specify which projects will be supported by this significant joint investment.

“The Scottish Government has so far committed more than £1.7 billion over the next 10 to 20 years to City Region and Growth Deals and related investments across Scotland.”

The specific projects and activities to be supported will be announced over the coming months, as part of a Heads of Terms agreement, following detailed discussions with the UK Government on their investment in the deal.