HIE reports on investment across Moray

The organisation’s Moray team provided a mixture of financial and non-financial support through 91 interventions during the year. This included awarding a total of £3.8m to Moray projects with a combined investment value of £13.7m.

Innovation remained a major focus, with 46 organisations receiving support. Among them were J Rhind & Co and A Massie & Son, which secured funding for automated equipment to enhance seed potato processing. Forres-based All-Steak Limited also received support to establish an advanced food manufacturing facility producing protein-based snacks.

Innovation support helped see the launch of 20 new products, processes or services.

HIE also helped 14 Moray organisations to increase productivity, including a £30,000 award to Caledonia Hosiery Ltd (CHL) to help modernise its production operations with automated machinery.

A total of 29 businesses and social enterprises in the area received support to help them transition to net zero greenhouse gas emissions. Of these, 28 were helped to develop or implement a net zero action plan.

These include Benromach Distillery, which received £62,500 towards the cost of buying and installing a new heat recovery system. Logie Timber also secured a £30,000 contribution towards the cost of new solar PV modules for the company’s sawmill building at Dunphail.

Fifty local community projects received support, including a capital grant of £150,000 to Moray Wastebusters Ltd towards the cost of fitting out new premises bought from HIE for use as a recycling hub and café.

Knockando Woolmill Trust also received a capital grant of £32,000 towards the cost of bringing its waterwheel back into use to generate electricity and help make the site more carbon neutral.

HIE also completed the development of the Manufacturing Innovation Centre for Moray (MICM) at Enterprise Park Forres. This is a Moray Growth Deal (MGD) project with more than £2.4m funding from UK Government, £1.8m from the Scottish Government, and £2.5m from HIE.

The agency appointed Elevator UK to operate the centre and deliver the service, as well as lead on stakeholder engagement, marketing and promotion. Elevator is developing a range of services to support innovation in manufacturing across Moray.

HIE area manager for Moray David Reid said:

“These figures reflect the ambition and resilience of businesses, social enterprises and communities across Moray. From advanced manufacturing and food production to community-led projects and net zero initiatives, we’re seeing organisations invest in growth and innovation.

“Looking ahead, we’ll continue working with partners to build on this momentum, creating opportunities for businesses and communities while supporting a more productive and sustainable regional economy.”

HIE’s provisional year-end figures are subject to review by Audit Scotland and will be published in the agency’s annual report and accounts later this year.