Argyll and Islands investment boosts HIE outturns

This is according to HIE’s own figures, which are subject to Audit Scotland review ahead of the agency’s annual report publication later in the year.

Support provided for projects in some rural and island locations including Colonsay, Mull, Tiree, Islay, Gigha, Bute and Arran, contributed significantly to overall results.

Ten development trusts received HIE support to increase capacity to take forward a range of projects. Examples include community-led housing projects in Colonsay and Gigha and development of new business units in Tiree and Colonsay.

HIE supported tourism and community asset developments at Aros Park Tobermory, Taste of Luing, and the South Islay Development Port Ellen project.

The agency also approved an additional £1m towards the redevelopment of the Rothesay Pavilion, a major transformational project led by Argyll and Bute Council to create a redeveloped arts, culture, sports and community venue for the island.

This brings HIE’s total support for the project to £1.75m to help unlock a range of economic and social benefits, including jobs, improving the town environment and providing cultural and educational opportunities for locals and visitors.

A new tenant was secured for the Factory at Machrihanish and two new tenants were secured for the European Marine Science Park (EMSP) near Oban. HIE also awarded a contract to build a new 1,600 sq m building at EMSP.

Innovation support from HIE to 54 organisations led to the development of 41 new products. Ten innovation projects received financial support, including two learning journeys by Dunoon based Wreckspeditions and Argyll Coffee Roasters of Tighnabruaich.

A total of 27 projects across the Argyll and Islands area received HIE support to increase business turnover by a combined £7,162,995. This helped to create or retain a total of more than 70 jobs with average salaries exceeding the £34,000 target.

Examples include Otter Ferry Seafish Ltd on Loch Fyne for the provision of halibut smolts into overseas market; Torrylin Developments Ltd on Arran to produce pre, pro and post-biotics from whisky waste; and an upgrade by Auchrannie Leisure Limited to attract visitors from overseas markets.

It was another record year for HIE’s involvement in inward investment projects to the region, with 15 projects secured in total. Three of those were in Argyll – the Otter Ferry Seafoods and Torrylin Developments projects, along with a third by Tritonia Scientific at the European Marine Science Park (EMSP) near Oban.

HIE’s outturns were achieved through a combination of financial investment and non-financial interventions such as advice, information and signposting to other sources of assistance.

Morag Goodfellow HIE area manager for Argyll and the Islands said:

“We’re very pleased with the progress made during the last financial year. Businesses, social enterprises and community groups continued to show great resilience, ambition and initiative and we were able to support many excellent projects. We continue to work with our partners to build on this progress, with many more projects underway this year.

“While there are still many significant challenges facing our area, notably around housing and transport, the recent research we commissioned into pipeline projects that offer regional transformational opportunities gives us good cause for optimism. We’ll be working hard to make sure businesses and communities across the Argyll and the Islands area benefit from these opportunities.

“We’ll also be continuing our support for tourism and food and drink sectors, which are particularly important for the economy of the Argyll and Islands area.

“In the meantime, we’re very keen to hear from businesses looking for support for their growth ambitions. We’d particularly like to hear from those interested in scaling up in innovation, digital and technical advice, as well as those exploring funding opportunities for capital projects.”

HIE’s Argyll and the Islands area includes Argyll and Bute, Arran and the Cumbraes.