£100m Islands Growth Deal to be signed in Orkney

January 20, 2023 at 8:34 am

The Islands Growth Deal will result in a total of £393 investment and 1,300 jobs across three islands groups in years to come.

The Islands Growth Deal — an agreement to invest £100 million future economic prosperity of Orkney, Shetland and the Outer Hebrides — is to be signed today in Orkney.

Up to 1,300 jobs and £393 million of total investment is anticipated to result from the signing of the transformative deal between the UK Government, Scottish Government, Comhairle nan Eilean Siar, Shetland Islands Council, and Orkney Islands Council.

Over a ten-year period, the Islands Growth Deal will invest in 16 projects and programmes that capitalise on the Islands’ unique assets.

These are built around three strategic themes of low carbon, supporting growth and future industries, and thriving sustainable communities, subject to approval of full business cases.

In Orkney, this includes a Stromness-based pan-island Islands Centre for Net Zero, a Scapa Flow Future Fuels Hub, an Orkney World Heritage Gateway, a vertical farm and further investment in the Orkney Research and Innovation Campus.

Jointly funded by up to £100 million — £50 million from each of the Scottish and UK Governments — the Islands Growth Deal will attract further investment of up to £293 million in match funding.

The deal has been developed by the three island councils, together with public, academic, business, community and third sector partners.

Councillor James Stockan, Leader of Orkney Islands Council, said: “The signing of this important document today in Orkney marks another significant milestone in our collaborative journey and future vision for our three island areas.

“We have worked together to successfully achieve an impactful growth deal from our governments in both London and Edinburgh that will help secure a better future for us all. Not only does the agreement recognise all our unique challenges faced as island areas, but also the strength of our assets and opportunities that we offer.”

UK Government minister for Scotland Malcolm Offord said: “This will not just boost local economies and create jobs, but also empower communities to get the most out of the many assets and attributes that make the islands such unique and special places to live.”

Scottish Government business minister Ivan McKee said: “This Growth Deal will be a game-changing initiative for our islands — enabling sustainable economic growth and delivering new and internationally significant port infrastructure that will play an important role in achieving net zero targets.”