The Islands Growth Deal has been developed over a number of years by Shetland Islands Council, Orkney Islands Council and Comhairle nan Eilean Siar, together with public, academic, business and community partners.
The Neptune Project was a feasibility study that aimed to develop a desk-based decision modelling and support system digital tool to help analyse, scope and develop ORION marine opportunities. It looked at how to model the current situation within Shetland and how to identify the correct path to decarbonise the marine sector.
The council’s Economic Development Service primarily provides financial support to eligible projects through grant assistance via the Economic Development Grant Scheme, and through commercial investments through the Shetland Investment Fund.
At end September 2022, the council had received funds totalling £3,940,068 from the net revenue generated by Scottish Crown Estate assets, relating to 2017/18, 2018/19 and 2019/20. The purpose of this funding allocation is to ensure that coastal communities benefit from the net revenue generated by the Scottish Crown Estate marine assets out to 12 nautical miles following the recent devolution of the management of the assets.
The Islands Deal Shetland Space Innovation Campus project has been merged in with another of the Islands Deal projects, a move that was approved by both UK and Scottish Government as part of that programme of work.
The council continued to provide match funding to Shetland Arts Development Agency to fund the Visual Artist and Craft Makers Awards, a partnership that also involves Creative Scotland.
According to Scotland’s Centre for Regional Inclusive Growth, community wealth building is a “people-centred approach to local economic development, which redirects wealth back into the local economy, and places control and benefits into the hands of local people.”
The last few years have seen considerable efforts undertaken to increase the promotion of Shetland as an attractive place to live, work, study, visit and invest.
