Highland councillors have officially endorsed a landmark Investment Plan that sets out how an estimated £547 million in retained Non-Domestic Rates (rNDR) will be managed and spent.

The funds, generated by the Inverness and Cromarty Firth Green Freeport, are earmarked for projects designed to deliver long-term economic and social benefits across the region.

Under an agreement with the Scottish and UK Governments, Highland Council will retain 97.5% of business rates from new enterprises within the Green Freeport tax sites for 25 years. Revenue is forecast to grow from approximately £4 million in 2027/28 to £28 million annually by the end of the term.

Strategic Objectives

The rNDR Fund will focus on five core strategic pillars to ensure the legacy of the Freeport:

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• Regeneration and Housing: Addressing the urgent need for workforce accommodation.

• Skills and Employment: Training and development for the local workforce.

• Net Zero Transition: Supporting the shift to a low-carbon economy.

• Productivity and Innovation: Boosting regional business capabilities.

• Global Trade Opportunities: Enhancing the Highlands' role in international markets.

Highland Council will act as the accountable body for the fund, with the ICFGF Board providing governance. Members have highlighted that housing and workforce development should be early priorities, alongside investments in transport, active travel, and community facilities.

Derek Brown, Chief Executive of The Highland Council, said: "The rNDR fund provides a significant opportunity to invest and deliver longer-term, beneficial outcomes for the Highland economy and communities, including opportunities to 'forward invest' to accelerate infrastructure and socio-economic improvements."

Calum MacPherson, Chief Executive of Inverness and Cromarty Firth Green Freeport, added: "The rNDR fund represents a powerful opportunity to ensure the benefits of the Green Freeport are felt right across the region for many years to come. These funds will build over time, and the long-term capacity to invest in skills, housing and local infrastructure is significant."

The Investment Plan will now be finalised, with an annual delivery plan to follow, outlining the application process for the fund.