£250k boost for new whisky distillery in Caithness
The HIE funding will help meet the costs of plant and equipment and help lever in significant private sector investment to the project.
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The funding will be invested by the Scottish Funding Council, Scottish Enterprise and Highlands and Islands Enterprise over the next five years. It will support the Scottish Government’s National Plan for Biotechnology by contributing 500 jobs to the 1,400 jobs the National Plan aims to create.
The funding was confirmed yesterday by Minister for Trade, Investment and Innovation, Ivan McKee who said: “This investment builds on the £120 million already invested in Scotland’s eight innovation centres which are already having a transformational effect on our economy.
“Scotland has the natural resources and infrastructure that make it the perfect place for Industrial Biotechnology to thrive, bringing significant economic benefits. I am pleased to confirm that the Scottish Government, through our national agencies, is able to invest £11.1million to support IBioIC to drive forward Scotland’s Industrial Biotechnology sector.”
Over the next five years, (IBioIC) will focus on key areas including leadership, accelerating commercialisation and creating a skilled workforce. There are now over a hundred members of IBioIC, including multi-national companies, public sector organisations and newly formed microenterprises.
The HIE funding will help meet the costs of plant and equipment and help lever in significant private sector investment to the project.
As a result of HIE’s support, businesses in the area are set to see combined turnover rise by £22.4m, while international sales will grow by £661,000.
The new product has been developed by Dunoon-based former construction industry director Allister Wood
There was support for businesses and social enterprises to lower emissions and improve efficiencies within their operations.
The project is expected to continue to attract innovative marine businesses, creating new well-paid job opportunities, particularly for young people, and encouraging entrepreneurship.
As a result of HIE support, businesses in the area will see total turnover rise by £14.5m and international sales by £1.9m.
Joanna Peteranna took up the role on 1 July.
A new report published today (Tuesday 16 July) outlines significant economic opportunities associated with reducing greenhouse gas emissions in the Highlands and Islands.
Figures show HIE approved £1.5m investment across 18 Shetland projects in 2023-24
Figures compiled by HIE show that businesses and communities supported by the agency in 2023/24 are set to create or retain more than 1,200 jobs across the region.
Six talented young people working at HIE over the past two years have secured permanent positions, bringing fresh perspectives and valuable skills to HIE’s economic and community development efforts.
£250k helped leverage a further £3.6m in national investment