MSP welcomes Investment Zone for North-east

The establishment of an Investment Zone in the North East region has been welcomed by Aberdeenshire East’s MSP, Gillian Martin.

The region has been selected to receive up to £80 million in support over a period of five years.

Ms Martin has however expressed a hope that this will be followed up with a positive decision by the UK Government on the Acorn Carbon Capture and Storage project.

The aim of the Investment Zones is to boost the economy, promote business growth, and create high-quality, well-paid jobs - innovation and fair work will be at the heart of Scotland’s first two Investment Zones.

Gillian Martin MSP.

A second Investment Zone will be established in the Glasgow City Region.

The implementation of this initiative will be carried out by the area’s Regional Economic Partnership, who will propose the sectors that should receive support, taking into consideration regional strengths and activity within Higher and Further Education institutions

Commenting on the news, Ms Martin said: “The support of up to £80 million will be a substantial boost to the North East and will go a long way in bolstering our strong, innovative sectors such as energy and renewables.

“However what will also make a significant difference in the North East’s and wider Scotland’s transition goals will be a speedy decision by the UK Government on giving Track 2 status to the Acorn Project and Scottish Cluster .

"I hope there is another imminent announcement,” she added.