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<\/p>\nThe Scottish and UK governments have marked an \u201cexciting milestone\u201d for a project that could \u201cdeliver thousands of high-quality jobs and attract billions in investment\u201d.<\/p>\n
Scottish Secretary Douglas Alexander and Deputy First Minister Kate Forbes signed a Memorandum of Understanding for a green freeport for Inverness and Cromarty Firth.<\/p>\n
It is one of two such developments planned for Scotland, with Friday\u2019s signing set to \u201cunlock\u201d \u00a325 million of UK Government cash for the scheme.<\/p>\n
Green freeports use tax breaks and other benefits in a bid to attract investment into their areas.<\/p>\n
With a focus on the transition to greener energy and technologies, they aim to boost trade and create high-quality jobs.<\/p>\n
<\/p>\n
The planned Inverness and Cromarty Firth Green Freeport (ICFGF) has already helped attract investment to the area, with Japanese firm Sumitomo Electric planning to develop\u00a0a\u00a0\u00a3350 million subsea cable manufacturing facility at the Port of Nigg, which will create more than 150 jobs next year.<\/p>\n
Mr Alexander said that Friday\u2019s signing was \u201ca pivotal moment in the UK Government\u2019s mission to boost economic growth in all parts of the UK\u201d.<\/p>\n
The Scottish Secretary said: \u201cThe Inverness and Cromarty Green Freeport will transform the economy of the Highlands, as well as playing a key role in our clean energy future.<\/p>\n
\u201cSupported by \u00a325 million of UK Government investment, and a range of UK Government tax incentives, this important collaboration between governments and local partners will deliver thousands of high-quality jobs and attract billions in investment.\u201d<\/p>\n
Ms Forbes said: \u201cWith its focus on the renewable and low-carbon energy industries, Inverness and Cromarty Firth Green Freeport aims to bring up to 11,300 jobs to the Highlands, aligning with the Scottish Government\u2019s flagship Fair Work First policy.\u201d<\/p>\n
She said signing the Memorandum of Understanding \u201cmarks an exciting milestone as we enter the delivery phase which will bring more business to the region\u201d.<\/p>\n
She added: \u201cIt is fitting that during Scotland\u2019s National Innovation Week we are opening the door for more companies to innovate in green industries, bringing further regeneration to the Highlands and taking steps to achieving Scotland\u2019s net zero ambitions.\u201d<\/p>\n
ICFGF chief executive Calum MacPherson said: \u201cThis is truly a historic moment for the green freeport.<\/p>\n
\u201cToday\u2019s milestone has been possible because of the shared ambition of many organisations to deliver positive change for the economic prosperity of the Highlands, for our young people and future generations, and for the health of our planet.<\/p>\n
\u201cTheir tenacity has brought us here today, and their determination will keep us moving forward at pace.<\/p>\n
\u201cThis is a time to look ahead with optimism, while also reflecting on all that we have already achieved to deliver jobs, investment and supply chain growth.<\/p>\n
\u201cWe\u2019re proving that the Highlands can compete \u2013 and win \u2013 on the international stage.\u201d<\/p>\n
Highland Council leader Raymond Bremner said: \u201cToday is a landmark moment for the Highlands, Scotland, and the UK. The signing of this Memorandum of Understanding is a powerful signal of shared ambition and belief in our region\u2019s future.\u201d<\/p>\n
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