Highlands and Islands Economy Set for Transformation: £100bn Investment Potential Revealed
Key Ideas
  • A new report commissioned by Highlands and Islands Enterprise reveals 251 planned development projects with a total investment value of up to £100.35bn in the region.
  • Renewable energy projects, including green hydrogen, account for three quarters of the total investment value, promising around 16,000 construction jobs and 18,000 operational jobs by 2040.
  • The report emphasizes the need for a collaborative, holistic approach to realize the benefits of these opportunities and highlights the importance of up-skilling the workforce for a green and inclusive economy.
  • Key figures like HIE chief executive and Deputy First Minister Kate Forbes express optimism and commitment to leveraging the region's potential, creating top-quality jobs for future generations.
A new report has quantified the scale of transformational opportunities facing the Highlands and Islands economy, revealing 251 planned development projects with a potential total investment value of up to £100.35bn. These projects could bring around 16,000 jobs during construction and development peaks, along with 18,000 operational jobs by 2040. The study, commissioned by Highlands and Islands Enterprise (HIE) in partnership with the Highlands and Islands Regional Economic Partnership (HIREP) and conducted by research firm ekosgen, will be discussed at the Convention of the Highlands and Islands meeting in Strathpeffer. The report focuses on regional transformational opportunities (RTOs) and emphasizes renewable energy projects, including green hydrogen, as major drivers of investment. It also highlights the importance of a collaborative, holistic, and place-based approach to maximize benefits. Key figures like HIE chief executive and Deputy First Minister Kate Forbes express optimism about the region's potential and the need for partnership to address challenges and ensure a long-term legacy of investments. The report sets out the distribution of RTO projects across various local authority areas and stresses the significance of up-skilling the workforce to meet the demands of a green and inclusive economy. The study underscores the critical role the Highlands and Islands region plays in Scotland's economic future and calls for a strong commitment to partnership to realize the transformative impacts of these projects.
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