Funding for £6.5m Stromness campus in Orkney agreed
- Published
The investment is being made in Stromness
Plans for a £6.5m research and innovation campus in Stromness in Orkney have taken a step forward after the organisations driving the project agreed funding.
Highlands and Islands Enterprise and Orkney Islands Council are behind the venture.
The campus is aimed at supporting sectors including marine renewables.
The next stage is a planning application. If successful, work could begin before the end of the year.
The HIE board has approved up to £5.15m for the project, including £1.48m of European Regional Development Fund (ERDF) money.
Orkney Islands Council is to provide £1.5m in funding.
'Retain young people'
The council will also transfer the ownership of buildings for the project to be refurbished and extended to create the campus.
Graeme Harrison, HIE area manager in Orkney, said: "This is a huge investment in Orkney's future business and academic infrastructure, the impacts of which will be felt across Orkney.
"It will support the growth of existing businesses and the creation of new enterprises.
"Crucially, it will provide more opportunities to attract and retain young people looking to live, work and study in the islands."
Economy Secretary Keith Brown said: "I'm sure that this investment will increase the competitiveness of Orkney in the marine renewables sector, encourage business diversification, growth, inward investment and foster international partnerships."