Highlands green freeport reaches key milestone
Cromarty Firth is one of two Scottish sites chosen to host a green freeport
- Published
A bid to make the Highlands a major European hub for the development of the offshore wind industry and renewable energy sector has reached a key landmark.
Legislation has been completed establishing the tax sites for the creation of the Inverness and Cromarty Firth Green Freeport (ICFGF).
It is hoped the move will attract global companies to invest in the area due to a number of tax benefits and other incentives which are now available.
The freeport has forecast that it will lead to the creation of more than 10,000 jobs in the Highlands and Islands and attract more than £3bn of fresh investment.
Green freeports are able to offer tax incentives and lower tariffs within the zones they cover.
They also include commitments to meeting net zero targets and supporting fair work practices.
The business case for the ICFGF was approved by the Scottish and UK governments in April.
Chief executive Calum MacPherson said the establishment of the tax sites was a "critical milestone" towards the creation of the freeport.
He said it was "fantastic news" for the area and beyond and the incentives they could offer had the potential to attract "worldwide interest".
Related topics
- Published13 January 2023
