Highlands and Islands Enterprise investing £408,476 in next stage of development at the Enterprise Park, Forres
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A REGIONAL development agency is investing more than £400,000 in a local business park.
Highlands and Islands Enterprise (HIE) has approved a £408,476 investment to start the next stage of development at the Enterprise Park, Forres to accelerate the construction of buildings and infrastructure to meet the needs of growing businesses in Moray.
HIE area manager, Stuart Black, confirmed the investment will fund road extension, drainage construction and other associated infrastructure works at an 11-acre plot at the south side of the park.
He said: "We’ve been developing the Enterprise Park to provide a range of good quality options for local businesses to grow so they can stay in the area, but also to accommodate more firms looking to locate in Moray.
"The success of the park has contributed to economic growth in the area and to community resilience by creating conditions to attract firms that provide good quality job opportunities."
Around 500 employees are based in the developed 40 acres of the 100-acre park, which incorporates flexible business space with individual units suitable for office, research and development, and clean manufacturing.
The site is home to developments such as the Horizon Scotland innovation and incubation centre (currently full), KURA contact centre, the ATOS development centre and the Orbex research and development centre, which houses Europe’s leading private satellite launch company.
Other tenants include Gael Force Marine, Phoenix Instinct, Electro Flow Controls and Makar Technologies.
The park is easily accessible by public transport and cycling. HIE has commissioned a Green Travel Plan for the site which will contribute to wider efforts to reduce emissions and ensure it continues to be an attractive place for employers and employees.
Further development supports the strategic aims of the Moray Economic Strategy, a joint initiative by HIE and Moray Council.
Work on the contract is expected to start in December and be completed by the end of March 2021. HIE has appointed Pat Munro (Alness) Limited to carry out the works, managed by agents, the Torrance Partnership.
Mr Black added: "With the exception of just one building, the developed area of park is now fully occupied, so it’s absolutely the right to time to start preparations for the next development phase."
