Representatives of the UK and Scottish governments joined the local council leader remotely using video conferencing software to sign up to the document in a unique event designed to enable the deal process to progress without compromising government guidance with regard to the Covid-19 pandemic and following public health guidance to keep everyone safe.
The agreement commits both governments to work collaboratively with partners to deliver a deal that will creat transformational and inclusive growth throughout the Moray area.
Graham Leadbitter, Moray Council leader commented:
"I welcome the commitment from both governments which, with match funding from partners , gives the Moray area an investment of over £100 million, which is needed more than even to help the locel economy recover after the COVID-19 crisis."
Iain Stewart MP, Parliamentary Under Secretary of State (Minister for Scotland), UK Government added:
" Earlier this month I was delighted to announce the UK Government is investing £21 million in the Moray Aerospace, Advanced Technology and Innovation Campus, which will create a pathway to skilled aviation engineering jobs for Moray's residents.
"With today's landmark signing of the £100 million Moray Growth Deal, I am pleased to confirm the UK Government's £32.5 million deal investment will also support the development of Grant Lodge - a visitor attraction in Elgin; a Manufacturing Innovation base for Moray; and a digital health and care cluster at Moray College UHI.
Working together with the Scottish Government and local partners, we will deliver the prosperity and opportunities that the people of Moray deserve.
City Region and Growth Deals will be crucial to getting Scotland's economy back on track after the coronavirus pandemic and the UK Government has committed more than £1.5 billion to Growth Deals across every part of Scotland to secure the future or our economy. "
Michael Matheson MSP, Cabinet Secretray for Transport, Infrastructure and Connectivity, Scottish Government welcomed the deal:
" Today marks an important milestone for the Moray Growth Deal, the signing of the Heads of Terms agreement and the confirmation of the projects supported by the £32.5 million the Scottish Government is investing in the deal. This will be invested in projects, designed by local partners, that can deliver on local priorities, re-invigorating the regional economy. I appreciate all the hard work that Moray Council and their partners have put in to get us to this point.
Invesments through the deal will create new jobs, protect existing jobs and extend economic opportunities to communities, businesses and individuals across the region. At a time of such economic uncertainty and challenge, the projects and investment committed through the deal will be more important than ever. We will work with Moray Council over the coming months, to help them develop the projects to unlock investment and drive inclusive growth across the area as swiftly as possible. "
You can view the Heads of Terms here
You will find more details of specific projects here