The £100 million Moray Growth Deal, signed in December 2021, is a 10-year investment programme aiming to deliver transformational projects across the region. Its goals include attracting and retaining young people and families, creating high-quality jobs in existing and emerging sectors, supporting innovation and economic diversification, and tackling inequalities such as the gender pay gap.

The Deal is funded through a combination of public and private sector investment, with the Scottish Government contributing £32.36m and the UK Government providing £31.9m. The remaining funding comes from Moray Council and regional partners.

2024 marked a pivotal year as the majority of MGD projects shifted from planning to delivery. At the start of the year, just two of the Deal’s eight projects had entered the delivery phase. By December, that number had tripled to six, with a seventh expected to follow in 2025, demonstrating strong momentum and growing confidence in the Deal’s delivery priorities.

Highlights from the report include approval for Housing Mix Delivery (HMD), Manufacturing Innovation Centre for Moray (MICM), Cultural Quarter, and Early Years STEM projects to enter delivery.

Construction is now underway at the HMD’s Speyview site in Aberlour, with planning permission also secured for the South Street regeneration, supporting both HMD and the Business Enterprise Hub. Momentum continued within the Cultural Quarter, with planning approval for the Elgin Town Hall redevelopment and the appointment of Page \ Park as lead architects for the restoration of Grant Lodge.

In innovation, Morrison Construction was awarded the MICM phase one contract, delivering new incubator spaces and a demonstrator suite. One of the Rural Centre of Excellence for Digital Health and Care Innovation living lab projects received the distinguished Up-and-Coming TEC Innovation Award at the 2024 ITEC Awards. Moray Council also approved phase two of the Bus Revolution, extending access to low-carbon, demand-responsive public transport across the region.

The annual report also sets out priorities for the year ahead, with a focus on driving delivery, strengthening community engagement, developing local benefit plans, and ensuring long-term sustainability of the Deal’s investments.

Moray Council leader, Cllr Kathleen Robertson, said: “The Moray Growth Deal represents one of the most wide-reaching investments Moray has seen in recent years. The progress we’ve seen over the past year shows what’s possible when local ambition is backed by strong partnerships and strategic investment. These projects are not just plans on paper, they’re laying the foundations for a stronger, more inclusive future for our communities, businesses, and young people.”

Moray Growth Deal lead for Moray Council, Cllr Marc Macrae, added: “This past year has marked a turning point for the Moray Growth Deal. We’re now seeing real-world progress as projects move into construction and delivery, and partnerships across the region drive momentum forward. I’d like to thank all our partners and stakeholders for their continued commitment to realising the Deal’s ambitious vision for Moray.”