HIGHLANDS and Islands Enterprise (HIE) will spend £190 million over the next three years to help create "a highly successful region in which increasing numbers of people choose to live, work, study and invest".
The agency's three-year operating plan for generating economic and community development promises to roll out superfast broadband throughout the region, grow key economic sectors, and address challenges facing fragile areas.
HIE aims to support businesses, social enterprises and communities to create or retain between 700 and 900 jobs each year between now and 2015, including 100 to 150 in fragile areas.
Locally based HIE account managers expect to help hundreds of businesses increase turnover by between £70m and £90m each year in total, including a significant rise in international sales.
The budget of at least £189.6m includes an annual £48m of baseline funding from the Scottish Government, augmented by anticipated income of £15m from the European Union, capital receipts (including property sales) of £12m, and revenue receipts (including property rentals) of £17.4m.
HIE says its plan is aligned with the Scottish Government's economic strategy, but at the same time features long-term infrastructure projects including superfast broadband across the region, developing marine leisure and fisheries facilities in Lochboisdale in the Outer Hebrides, and the regeneration of John O'Groats.
Also earmarked for cash are Inverness Campus, Moray Life Science Centre, and the European Marine Science Park in Argyll.
A further six large-scale investments signal the importance of the Highlands and Islands energy sector, especially renewables and low carbon.
These are at Nigg in Ross-shire, Machrihanish in Argyll, Hatston and the European Marine Energy Centre in Orkney, Scrabster Harbour in Caithness and Arnish in the Outer Hebrides.
HIE chief executive Alex Paterson said: "With the security of knowing our baseline budget from the Scottish Government for the next three years, we've been able to plan ahead with confidence.
"We'll have a strong focus on developing the sectors the Government Economic Strategy has identified as critical for Scotland's economic growth – energy, life sciences, creative industries, food and drink, sustainable tourism, financial and business services, and universities.
"At the same time, HIE's unique integration of community and economic development powers gives us the ability to pursue opportunities and address challenges affecting our fragile areas in particular."
Lorne Crerar, chairman of HIE, explained that innovation and collaboration with a range of partners in the public, private and third sectors would play key roles in making the agency's plan a reality.
"Delivering our ambitions will require new ways of doing things, alternative sources of finance, innovative ideas, and a sharp focus on outcomes and impact," he added.
John Swinney, Cabinet Secretary for Finance, Employment and Sustainable Growth, said: "The Government Economic Strategy sets the direction for the public sector to work collaboratively with the private, academic and third sectors to accelerate growth and create jobs.
"The launch of HIE's Operating Plan complements this work and sets a longer-term vision on how we can work together to support economic opportunities across all areas of the Highlands and Islands."
